A survey conducted by Juwai and IQI Global revealed that the top three items on the real estate industry’s Budget 2021 wishlist are the elimination or reduction of stamp duty on property purchasing, more support for first-time buyers and a lower property gains tax.
The survey was conducted by 344 Malaysian real estate agent panellists between June 16 and Aug 10, 2020.
“Stamp duty exemption is the essential item for supporting the property market, according to the surveyed real estate agents. A stamp duty exemption would save home buyers at least RM20,000 on a typical purchase. It would also make it easier for first-time homebuyers 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.