Weekly Industry News

Property sector allocations insignificant to curb overhang

Weekly Industry News

Property players are generally in favour of Budget 2021 allocations for the sector, especially the stamp duty exemption for first-time home buyers and rent-to-own (RTO) scheme for PR1MA housing, but such efforts may still prove little to solve the property overhang issue in the country.

Speedhome CEO Wong Whei Meng said the decision to reduce personal income tax and EPF contributions will increase disposable income, especially for the income group earning between RM50,001 and RM70,000. First-home buyers who have planned and started saving for house downpayment can take advantage of it to accelerate the purchase timeline.

Media Title: The Sun

Date: 09 Nov 2020

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