KUCHING: House buyers are advised to take advantage of the Housing Deposit Assistance Scheme (HDAS) and the Keluarga Malaysia Home Ownership Initiative (i-MILIKI) initiatives at the Sarawak Housing and Real Estate Association (SHEDA) Property Expo.
SHEDA said in its press release here today that first time home buyers who enter into a Sale and Purchase Agreement dated between 1 June 2022 and 31 December 2023 will be able to take advantage of the i-MILIKI stamp duty exemption.
“The i-MILIKI initiative which was announced by Malaysian Prime Minister Datuk Seri Ismail Sabri Yaakob earlier this year offers a 100% stamp duty exemption for first-time homeowners who purchase properties priced RM500,000 and below and 50% stamp duty exemption on properties priced over RM500,000 up to RM1 million,” SHEDA said.
SHEDA added that the exemption applies to loan agreements and instruments of transfer for the purchase of a first house.
“Potential home buyers are encouraged to reserve their preferred units at the SHEDA Property Expo 2022 this weekend in order to be first in line once the gazette is published and mechanisms are implemented,” SHEDA added.
“The Sarawak Government has also enabled potential home owners in the B40 category to own homes by way of a special grant through Mutiara Mortgage and Finance (MMF) under the Housing Deposit Assistance Scheme (HDAS).
“The Premier of Sarawak, Datuk Patinggi Tan Sri Abang Johari Tun Openg, had announced that RM40 million has been set aside for this purpose and purchasers in this category may be able to receive up to RM10,000 per person to assist in deposit payments.
“In addition, the balance of the loan financing through MMF is set at one per cent interest rate,” SHEDA said.
The SHEDA Property Expo which takes place this weekend on 30 September 2022 – 2 October 2022 at the Borneo Convention Centre Kuching (BCCK), is the perfect opportunity for home buyers to utilize these and other financial assistance and advantages provided by the Federal and Sarawak Governments.
With a range of properties available, visitors will be able to spend their time over the weekend to carefully browse, compare and select an ideal property that fits their lifestyle and aspirations.
SHEDA said with external factors affecting the housing and real estate industry such as escalation in building material costs, labour shortage and the increase in OPR levels, it is inevitable that the cost of construction will increase considerably in the coming years.
SHEDA added given the foreseeable increase in cost and existing financial assistance available, the best time to buy really is now.
The main sponsors of the SHEDA Property Expo 2022 are Naim Land Sdn Bhd, Lee Onn Development Sdn Bhd, Chen Ling Development Sdn Bhd and CMS Berhad, through its subsidiary Cahya Mata Sarawak Property Development Sdn Bhd.
The event is supported by the Ministry of Public Health, Housing and Local Government Sarawak (MPHLG), the Construction Industry Development Board Malaysia (CIDB) and the Centre of Technical Excellence Sarawak (CENTEXS).
