ARTICLE · 22 MARCH 2023

Malaysian Budget 2023: Real Estate Sector

Shearn Delamore & Co.

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The Malaysian budget for 2023 was re-tabled on 24 February 2023 ("Budget 2023") by Datuk Seri Anwar Ibrahim, the Prime Minister and Minister of Finance of Malaysia.

MalaysiaReal Estate and Construction

Dhinesh Bhaskaran

Introduction

The Malaysian budget for 2023 was re-tabled on 24 February 2023 ("Budget 2023") by Datuk Seri Anwar Ibrahim, the Prime Minister and Minister of Finance of Malaysia. The Budget 2023 was formulated to include inclusive and sustainable economic growth, restore confidence in institutions and governance, and combat inequality through social justice. Among the critical areas of focus in the budget is the real estate sector, which plays a crucial role in providing basic quality amenities.

The real estate sector in Malaysia has been facing various challenges, such as the oversupply of properties in specific segments of the market and affordability issues for homebuyers. Moreover, the sector has been adversely affected by the global economic slowdown.

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