Slot In The Arm for Property Sector

Rehda president Datuk Soam Heng Choon announced the reintroduction of the Home Ownership Campaign (HOC), the exemption of the real property gains tax (RPGT) and the removal of loan value ratio for residential units, priced from RM 600k.

In George Town, Penang Rehda chairman Datuk Toh Chin Leong said banks needed to ease up on the conditions for housing loan approvals in line with the government’s effort for the property sector to recover the Covid-19 fallout.

‘’While the government’s short-term stimulus measures for the property sector would have a definite positive impact, the approval of housing loans remained a challenge. Besides that, the removal of the 70% loan limit for the purchases of a third property and above RM 600k and urged banks to do the same.” said by Datuk Toh.

Home sellers also need not pay the RPGT when they sell their homes until December next year.


Source: Thestar