JOHOR BARU: Nur Farisha Nazura Abd Rafik has been looking for suitable locations to buy a house since early this year.
She said the Budget 2025 announcement of a tax relief of up to RM7,000 for the purchase of residential properties priced up to RM500,000 is a good move as she has been thinking of buying a landed property as her first house.
“I am considering Kulai as it still has affordable housing, is well-equipped with amenities and not far from Johor Baru,” she said, commenting on financial relief for first-time housebuyers.
Nur Farisha, 26, a Johor resident who has been working as a credit processing executive in Kuala Lumpur, said she prefers settling down in her home state as properties in the Klang Valley are more expensive.
She said the government’s tax relief for first-time homebuyers was a good start for young people like her to buy their own house.
“Buying a house might not be on top of the mind for some who have just started working and are still building on their financial stability. To me, purchasing a house is a huge responsibility but a worthy and necessary investment.
“Due to the nature of my job, I am familiar with the loan application and approval process so I don’t think it will be a problem for me to obtain a housing loan,” she added.However, Nur Farisha said while the tax relief will be helpful, it does not directly address the challenges buyers face when they need to pay the downpayment to purchase a home.
For design consultant Sam Liew, the tax relief announced by the government will come in handy for young couples looking to own their first property.The 31-year-old said he is planning to buy his first house next year after getting married last month.
“My wife and I have already used a chunk of our savings on our wedding ceremony and reception. It is good that there is a tax relief of up to RM7,000 when we purchase our first house,” he said.Liew said the initiative will encourage more young people, especially young couples with dual income, to purchase their own property.
In his Budget 2025 speech on Oct 18, Prime Minister Datuk Seri Anwar Ibrahim said first-time homebuyers will get a tax relief of up to RM7,000 for purchasing residential units priced up to RM500,000. For properties priced between RM500,000 and RM750,000, buyers will qualify for a tax relief of up to RM5,000.
Anwar said these reliefs, aimed at encouraging first-time home ownership, can be claimed for three consecutive assessment years on sales and purchase agreements completed between Jan 1, 2025 and Dec 31, 2027.
