Politics · Malaysia Bureau
Property developers push for stamp duty break on first homes under RM1m
Malaysia's real estate sector is calling on the government to exempt first-time homebuyers from stamp duty on properties valued up to RM1 million. The industry body says the threshold should be regularly reviewed to reflect current market conditions.
LSN Malaysia ·
The Real Estate and Housing Developers' Association (REHDA) has urged policymakers to introduce stamp duty exemptions for first-time property purchasers buying homes priced at RM1 million or below, citing affordability concerns in the residential market.
The move is designed to ease the financial burden on first-time buyers as they enter the property market, with developers arguing that stamp duty costs represent a significant additional expense on top of purchase prices.
REHDA emphasized that any exemption framework should not remain static. The association has recommended that the government conduct regular reviews of the RM1 million threshold to ensure it remains aligned with evolving house prices and broader market dynamics across different regions.
The call reflects ongoing industry pressure to implement measures that would boost homeownership accessibility, particularly among younger and middle-income Malaysians entering the property market for the first time. Industry observers note that stamp duty relief could help stimulate demand in the residential sector while supporting government affordability objectives.