Finance Ministry: Stamp duty exemption for first-time house buyers from Jan 1, 2019

Finance Minister Lim Guan Eng says Malaysia will find it challenging to meet its 3% fiscal deficit target for next year due to uncertainties around the US-China trade war.

PETALING JAYA: First-time homebuyers will be fully-exempted from paying stamp duty for properties up to RM1mil from Jan 1, says the Finance Ministry.

Its minister Lim Guan Eng (pic) said the move was primarily to increase home ownership as well as to stimulate the sluggish residential real estate market that has resulted in an overhang of unsold developer units.