A property developer has renewed its call for the government to continue its home ownership campaign and strengthen efforts to make property ownership more attainable.
Mah Sing Group managing director Leong Hoy Kum said the current campaign, due to end on Dec 31, has proved effective in encouraging the property market through stamp duty exemptions and other incentives.
“A renewed campaign would not only encourage home ownership, especially among first-time buyers, but also help sustain market momentum in 2026,” he said in a statement today.
The home ownership campaign, last held in 2021, offers stamp duty waivers on loan agreements and instruments of transfer, a minimum 10% rebate and various other freebies.
Last year, Leong said the campaign was vital in supporting homebuyers and reducing property overhang.
Last month, the housing and local government ministry had proposed a continuation of the home ownership campaign among 13 proposals submitted to the Treasury for the 2026 budget.
Leong lauded the government for supporting the property market through extending the stamp duty exemption for first homes priced up to RM500,000 until the end of 2027.
He said the government’s decision to raise the loan limit of the Public Sector Home Financing Board from RM600,000 to RM1 million will also benefit civil servants and stimulate market growth.
Separately, the Real Estate and Housing Developers’ Association Malaysia described the stamp duty exemption as a boon for first-time homebuyers.
Rehda said the expansion of the housing credit guarantee scheme to RM20 billion, aimed at helping those without a fixed income to own homes, will also spur the housing market.
It welcomed Prime Minister Anwar Ibrahim’s call for financial institutions to support the implementation of rent-to-own schemes, saying it would benefit middle-income households.
However, the association expressed concerns over the sharp rise in stamp duty for foreign residential ownership from 4% to 8%.
