KUALA LUMPUR: The housing measures under Budget 2027 could help more people, particularly first-time buyers and self-employed individuals, own homes, but their effectiveness will depend on proper implementation and adequate buyer protection, stakeholders said.
Home Buyers Tribunal president Datuk J. Shamesh said the RM20 billion housing credit guarantee allocation under Syarikat Jaminan Kredit Perumahan (SJKP) was significant as it sought to address a key barrier to home ownership - access to financing for individuals with irregular incomes or without conventional proof of income.
"The stamp duty exemptions could also reduce upfront transaction costs for first-time buyers, allowing them to allocate more of their financial resources towards securing a home.
"However, the effectiveness of these measures will ultimately depend on their implementation, including clear eligibility criteria, transparent financing procedures and adequate safeguards to ensure that the benefits reach the intended recipients,” he said.
From a legal standpoint, Shamesh said housing affordability should not be assessed solely in terms of purchase prices or the availability of financing, but should also include adequate buyer protection through clear contractual terms, proper disclosure by developers and effective enforcement of buyers’ rights in the event of disputes.
"This is particularly important for first-time buyers, who may be less familiar with the legal and financial implications of property transactions.
"Ultimately, access to affordable housing is not merely an economic issue; it is also about providing ordinary Malaysians with greater financial security and the opportunity to own a home with confidence,” he said.
Shamesh said the challenge was to ensure that the policies translated into sustainable home ownership, supported by sound financing practices, transparent property transactions and effective legal protection.
Meanwhile, National Housing Rental Association chairman K. Prakash P. Kalivanan said projects such as Bandar Madani Bukit Jalil, which is planned as a residential area equipped with various facilities, including vertical schools, should be priced affordably, with rebates offered to enable B40 households to own homes.
"Registration for the first phase is scheduled to open this Monday (Oct 12), but prices must be controlled, and rebates should be given so that the B40 group can benefit,” he said.
National House Buyers Association (HBA) honorary secretary-general Datuk Chang Kim Loong called for stamp duty exemptions for first-time homebuyers to be extended to properties purchased in the secondary market.
He questioned whether buyers purchasing subsale properties should enjoy the same benefits as those buying homes directly from developers.
"Shouldn’t first-time buyers purchasing subsale or secondary-market properties enjoy the same benefits? The exemption should apply universally to both primary-market properties purchased from developers and secondary-market residential properties,” he said. - Bernama
