Home sales between RM500k to RM1mil to boost housing market

The rise to 75 per cent for the stamp duty exemption for houses worth RM500,000 to RM1 million under the 2023 Budget is one of the rare measures that will help both homebuyers and the housing industry.

Kashif Ansari, co-founder and group chief exeucitve officer of Juwai IQI said the RM15,000 savings on an RM750,000 purchase will benefit the homebuyer.

According to him, the housing market will benefit from an increase in demand for homes priced between RM500,000 and RM1 million.

“This measure will reduce the supply overhang, stimulate much-needed new construction, and help many worthy families into their new homes. The new exemption complements the already in-place stamp duty exemption for houses worth up to RM500,000 until the end of 2025,” he said.

Read more: New Straits Times

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