Govt wants every Malaysian to own a home, says Nga


IPOH: With a total of 76.9% of Malaysians owning a home to date, the government hopes to see the numbers increase following the stamp duty exemptions for first-time house buyers, says Nga Kor Ming.

The Local Government Development Minister said the ministry hopes that every Malaysian has a place that they could call home, and made this proposal to the Finance Ministry.

Nga said after taking the proposal into consideration, the Finance Ministry decided to continue with the stamp duty exemptions.

“We want to make sure every Malaysian owns a home; we want to make sure that they have shelter, and a roof above their head.

“This is very important, and we thank the Prime Minister - who is also the Finance Minister - for continuing with the Home Ownership Programme,” he said when speaking to reporters after visiting the Kampung Simee wet market here on Sunday (June 11).

He also announced six development projects worth RM3.46mil, including upgrading the market’s infrastructure, roads, drains, and gutters at several other areas.

The Finance Ministry had announced that first-time house buyers would continue to enjoy a 100% stamp duty exemption for purchases not exceeding RM500,000 via the Malaysian Home Ownership Initiative (i-Miliki) under Budget 2023.

It said a 75% stamp duty exemption will also be given for first-time home ownership for houses priced at between RM500,000 and RM1mil under the initiative.

Nga said he just got back from Africa, and added that Malaysia has been identified as a model for many developing countries.

“They would very much like to learn from our country, with the housing minister from Kenya visiting next month. We need to progress and take more initiatives to ensure our people are able to purchase their first house," he said.

“The exemption can save them more than RM20,000, and it will be a good time for housing developers to take the opportunity to launch and promote their properties,” added Nga.

Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!
   

Next In Nation

Penang building collapse: One confirmed dead, two others injured
The logging activities in Sipitang are legal, says Sabah Forestry Dept
Sarawak contributed greatly in ensuring nation's political stability, says Anwar
Muslim countries must work together to spur their development, says Anwar
Nine workers feared dead after building collapse in Penang
I was just responding to Aman Palestin, Azam tells lawyer
Anwar, Indonesian vice-president to deliver keynote address at GMBF 2023
Underage marriages: 533 couples recorded in Kelantan since 2019
Perak MB to present state Budget this Friday
Posting of auxiliary police has not reached 50%, says Bukit Aman

Others Also Read