Rehda asks stamp duty relief for homes up to RM1mil

Rehda Malaysia has called on the Malaysian government to extend stamp duty exemptions to first-time homebuyers for properties priced up to RM1 million. The proposal, included in the 2027 Budget, would ease the upfront costs for buyers, especially in high-cost urban areas where the current threshold of RM750,000 falls short. First-time buyers would receive full stamp duty exemptions on properties up to RM500,000, and partial exemptions on properties up to RM750,000.

Rehda Malaysia's president, Datuk Zaini Yusoff, hopes the government will continue to review the eligibility threshold based on prevailing house prices and market conditions, potentially extending the incentives to properties priced up to RM1 million. The association also welcomed the RM20 billion in housing financing guarantees under SJKP, which are expected to help about 80,000 first-time homebuyers, particularly those with irregular incomes.

However, the association cautioned that rising construction material prices, labor expenses, and regulatory compliance costs continue to hinder developers' efforts in addressing affordability. Zaini Yusoff also urged the government to review all related charges imposed by federal and state governments, including infrastructure, utility, statutory, regulatory, and compliance fees, to ensure a more holistic change in housing affordability.