LOWER interest rates and the extension of the home ownership campaign until 2021 have boosted property sales since June, The Star reported today.

Real Estate and Housing Developers Association (Rehda) Malaysia national council member Tony Khoo Boon Chuan was quoted as saying that this is the right time to invest as there are many perks and benefits available in the market.

“No doubt buyers are guarded when buying high-priced products.

“But others who are not affected financially also realise the time is here to buy or invest in a new property.”

In addition to a 10% discount on the selling price, there are other incentives such as stamp duty exemption, free legal fees, free home security and alarm systems, additional cabling, fittings and fixtures.

“There are so many property choices with perks and benefits in the market for buyers.”

The exemption of real property gains tax for disposal of up to three properties has helped in property sales in the secondary market, he said.

“This will certainly encourage a lot of investors and buyers who are looking to upgrade.”

The campaign was reintroduced under the Penjana economic revival package.

Under the campaign, there was exemption of up to RM1 million on stamp duty for name transfer letters for properties priced between RM300,000 and RM2.5 million, and 100% exemption for the financing agreement.

This is applicable for sale and purchase agreements signed between June 1 and May 31, 2021, which is subject to a 10% discount provided by the developer. – August 2, 2020.