Weekly Industry News

Stamp duty exemption among real estate industry`s wishlist

Weekly Industry News

A SURVEY by real estate sales and media company, Juwai IQI Holdings, shows that almost 350 real estate agents in the country wish for the government to eliminate or reduce stamp duty on property purchasing as regards the upcoming Budget 202,1 on Nov 6, 2020.

It said the real estate industry also hopes that the government would provide more support for first-time home buyers and lower the Real Property Gains Tax (RPGT).

Juwai IQI ED Kashif Ansari said a stamp duty exemption will save home buyers at least RM20,000 on a typical purchase.

“It will also make it easier for first-time home buyers to get into the property market, stimulate investor activity and encourage trade-up buyers to move while the exemption is in effect,” he said in a statement.

Media Title: The Malaysian Reserve

Date: 09 Oct 2020

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