Property Legal Fees

From July 2023, the Peninsular Malaysia property's legal fees for conceyancing transactions will be revised. The legal fees will be increased due to a revision in the law to allow lawyers to cope with hikes in operating costs. 

According the gazetted from Solicitor's Remuneration Order (SRO 2023) the changes will affected the transactions matters which including properties sale and purchase, financing and tenancies.

Besides that, there will be reduction on property transactions up to 50% for licensed housing developers. It is also depending on value of property.  

In 2005, replacing the Solicitors Remuneration Order 2005 (now replaced by SRO 2023) was approved by SCC (Solisitors Costs Committee) as a guideline to regulate the legal fees for conveyancing matters. 

The conveyancing usually covers work for non-litigation which included sale and purchase agreements, tenancy agreements, lease agreements, transfers, loans and assignments. 


Source: TheStar