While top earners in Malaysia can well afford properties, middle and bottom earners struggle to cough up the down
payment. A 50% rebate on stamp duty seems like a godsend to the latter two groups, but just how much exactly does it
With the New Year comes a new policy aimed at easing the rakyat’s burden. Beginning January 1, 2015, a 50% rebate on stamp duty exemption for the transfer of residential property and loan agreement will be applied on firsttime house buyers for houses costing RM500,000 and below. The government hopes this initiative will make houses more affordable for first-time buyers, particularly households with low income.
But is the rebate package, together with the new cash assistance scheme (BR1M) offered in Budget 2015, sufficient for firsttime house buyers? And how much in savings per month does one need to pay as entry cost of getting a house?
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