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Prime Minister Datuk Seri Anwar Ibrahim has announced a stamp duty exemption for first-time homebuyers
He said the government plans to fully exempt first-time homebuyers from stamp duty on Memoranda of Transfer and loan agreements for properties valued up to RM500,000.
This exemption will be extended for another two years, until 31 December 2027
To keep the property market competitive and help control rising house prices, the government has proposed to increase the flat-rate stamp duty on residential property transfers by non-citizen individuals and foreign companies from 4% to 8%.
This new rate will not apply to Malaysian permanent residents. In line with the 13th Malaysia Plan's aspirations, the government is encouraging financial institutions to support the implementation of rent-to-own and build-then-sell housing schemes.
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