Budget 2020: Changes In Real Estate

The Budget 2020 for Malaysia was recently tabled at the Dewan Rakyat in Parliament by YB Tuan Lim Guan Eng, Minister of Finance, on Friday, 11th October 2019. The Budget 2020 objectives are based on "Driving growth and equitable outcomes towards shared prosperity."

Real Estate transactions fall under Strategy 11: Promoting Access to Housing in the Third Thrust; which is Creating A United and Inclusive and Equitable Society. Below are the six points which were tabled under this category:-

1. Funds for Affordable Homes;
2. Extension of the Home Ownership Campaign ("HOC");
3. Stamp Duty Exemptions for Rent to Own Schemes ("RTO");
4. Foreigner Ownership of RM600,000;
5. Extension of the Youth Housing Scheme ("YHS") by Bank Simpanan Nasional ("BSN"); and