Johor Real Estate and Housing Developers Association (REHDA) branch chairman Datuk Steve Chong Yoon On has called on potential house buyers to take advantage of the Home Ownership Campaign (HOC) 2019, where they could enjoy stamp duty exemptions.
“Now is the best time to buy residential units. The government is also encouraging home-ownership among Malaysians,” he said as reported in The Star.
The campaign, which ends on 30 June, offers high-rise units, serviced apartments and landed property apartments, but not commercial properties.
It is open to both first-time homebuyers and those who already own a home but is looking to acquire a new one for investment purposes, noted Chong.
At the HOC, homes priced between RM300,000 and RM1 million are exempt from stamp duty.
For those priced from RM1 million to RM2.5 million, the stamp duty exemption would apply only to the first RM1 million, while the rest of the amount is subject to a three percent charge, he said.
Previously, a one percent stamp duty fee was levied on buyers for the first RM100,000, two percent for RM100,001 to RM500,000 and three percent for RM500,001 to RM1 million.
Chong added that housing units offered during the campaign by Johor REHDA members comprised completed units and those under construction.