Government Latest News

Latest News from Government

In 2013, the Government will allocate RM100 million to the Ministry of Housing and Local Government to revive 30 abandoned housing projects.

The Government will allocate RM1.9 million to build 123,000 affordable housing units in strategic locations in 2013. The initiative will be implemented by PR1MA, Syarikat Perumahan Nasional Berhad (SPNB) and Jabatan Perumahan Negara.

The Government has made improvements to the My First Home Scheme by increasing the income limit for individual loans from RM3000 to RM5000 per month, or joint loans of husband and wife of up to RM10,000 per month.

The Government has also abolished the additional requirement for a savings record equivalent to 3 months instalment and minimum employment of 6 months.

The Real Property Gains Tax (RPGT) will be increased from 10% to 15% for properties sold within the first 2 years, while properties sold from the third to fifth year will be increased from 5% to 10%.

The Government has proposed that the stamp duty exemption on the instrument of transfer agreements and loan agreements for the purchase of the first residential property be extended to 31 December 2014 with the price limit on residential properties raised to RM400,000 from RM350,000 previously.