{"id":17952,"date":"2022-02-08T19:00:00","date_gmt":"2022-02-08T11:00:00","guid":{"rendered":"https:\/\/www.comparehero.my\/blog\/uncategorized\/budget-2021-real-estate.html"},"modified":"2026-03-26T16:00:22","modified_gmt":"2026-03-26T08:00:22","slug":"budget-2021-real-estate","status":"publish","type":"post","link":"https:\/\/www.comparehero.my\/blog\/government-budget\/budget-2021-real-estate.html","title":{"rendered":"Budget 2022: What’s In It For The Real Estate Sector and Property Buyers?"},"content":{"rendered":"\n

The recent Budget 2021 proposes a number of initiatives for the real estate industry and home buyers. Read this article to find out the key highlights and benefits that home buyers can expect to receive from the latest national budget. <\/strong><\/p> \n

The Parliament has finally passed Budget 2021<\/a> at the policy level after 12 days of heated debate in the Dewan Rakyat. The bill will continue to be debated on the committee level on 30 November.<\/p> \n

But even before new and improved measures<\/a> were announced, Budget 2021 had already included an exhaustive list of goodies, many of which are much-needed catalysts to boost the country\u2019s economy and help sustain the livelihood of many Malaysians. <\/p> \n

With a record of RM322.5 billion expenditure, Budget 2021 is the largest budget in Malaysian history. In our previous take<\/a>, we concluded that Budget 2021 is an inclusive bill that offers a little bit of something – if not a lot – for everyone: the Bottom 40, Middle 40 and Top 20, small and medium enterprises (SMEs) and multinational companies.<\/p> \n

But does the budget offer a laundry list of benefits for the real estate sector and Malaysian home buyers? Well, it\u2019s certainly a boon for first-time home buyers; with that said, let\u2019s take a closer look at these property-focused initiatives for more insights.<\/p> \n

1. Are you a first-time home buyer? We\u2019ve got some good news for you!<\/h2> \n

Buying your first house<\/a> is a daunting task. The amount of lengthy paperwork, research and money involved throughout the process can seriously take a toll on someone. To top it off – there\u2019s something innately significant about buying your first house that contributes to this added pressure when compared to other investments in life. Don\u2019t get us wrong, your first car or first mutual fund investment could be equally important but it doesn\u2019t carry the same emotional connection as your first house.  <\/p> \n

But, no worries, in an effort to encourage homeownership, the Malaysian government recently announced a new benefit for first-time home buyers!<\/p> \n

If your selected first home is below RM500,000, you are eligible for a full stamp duty exemption<\/strong> for memorandum of transfer documents<\/strong> (MOT) and loan agreements for purchase agreements<\/strong> starting from 1 January 2021 to 31 December 2025. <\/p> \n

The government is already running the Home Ownership Campaign (HOC)<\/a> until May 2021, which provides a similar stamp duty exemption but limited to new launch properties. <\/p> \n

First introduced in 2019, the HOC initiative aims to support home seekers secure houses, as well as encourage the sales of unsold properties in Malaysia\u2019s housing market. The HOC extension was announced during the short-term economic recovery plan, PENJANA in June after numerous industries, real estate particularly, took a heavy beating during the Movement Control Order (MCO) period. <\/p> \n

For more context, the HOC was initially introduced to help aspiring homeowners get a leg up in the real estate game as well as to mitigate the ongoing glut of unsold properties or overhand properties in the Malaysian market – a long-standing issue in the country. <\/p> \n

Here are more details of the HOC campaign: <\/p> \n