Property Website Says Budget 2022 Is On Point

PropertyGuru’s Country Manager explains why the government’s move is in line with consumer’s sentiment.
Photo by Tierra Mallorca on Unsplash

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According to PropertyGuru’s recent Consumer Sentiment Study, 46% of Malaysians have difficulties in securing home loans.

This is because most Malaysians are either unable to afford down payments or do not have a stable income.

Because of this, the company is supporting the government’s RM1.5 billion allocation to continue low-cost housing projects and the RM2 billion allocation to helping those without a stable income to be homeowners with the Housing Credit Guarantee Scheme under the Pemilikan Rumah Kediaman initiative.

The initiatives are put in place to encourage homeownership in an inclusive and systematic manner as all Malaysians have the right to own a home.

Credit: PropertyGuru.

Real Property Gains Tax

The government’s move to no longer impose the Real Property Gains Tax (RPTG) on properties that are being sold from the sixth year onwards is welcomed by PropertyGuru.

The company believes that this will help decrease the burden of non-speculative property holders and help stimulate the property market by the encouragement of residential property trading.

PropertyGuru Wish List

The property website company also hopes that the government would extend the Home Ownership Campaign (HOC) into 2022 with the incentives under the campaign to be extended into the secondary residential market.

The move, according to them, is to help the economy and encourage first-time buyers to consider subsale properties.

This sentiment is shared by 58% of Malaysians according to the PropertyGuru Consumer Sentiment Study.

PropertyGuru is a property search website that helps buyers look for and buy homes without the need to do much legwork.

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