KUCHING, Sept 27: The upcoming Sheda Property Expo from Sept 30 to Oct 2 is the perfect opportunity for first-time homebuyers to utilise the financial assistance and advantages provided by the federal and Sarawak governments such as the i-Miliki stamp duty exemption and the RM10,000 Housing Deposit Assistance Scheme (HDAS).
Sarawak Housing and Real Estate Developers’ Association (Sheda) Property Expo, a one-stop expo for property developers, home buyers and investors, is returning to Borneo Convention Centre Kuching (BCCK) starting this weekend.
In a media release today, Sheda said earlier this year, the federal government had announced the Keluarga Malaysia Home Ownership Initiative (i-Miliki) which offers stamp duty exemption for first-time homebuyers who enter into a Sale and Purchase Agreement between June 1, 2022 and Dec 31, 2023.
Under the i-Miliki initiative, first-time homeowners who purchase property priced RM500,000 and below will be entitled to a 100 per cent stamp duty exemption and 50 per cent stamp duty exemption on property priced over RM500,000 up to RM1 million.
The exemption applies to loan agreements and instruments of transfer for the purchase of a first house.
Sheda thus encouraged potential homebuyers to reserve their preferred units at the property expo this weekend in order to be first-in-line once the gazette is published and mechanisms are implemented.
Moreover, Sheda pointed out that potential homeowners in the B40 category should also take advantage of the RM10,000 down payment assistance under HDAS offered by the Sarawak government through Mutiara Mortgage and Finance (MMF).
With Premier of Sarawak Datuk Patinggi Tan Sri Abang Johari Tun Openg having announced that RM40 million has been set aside for this purpose, Sheda said purchasers in this category may be able to receive the special grant, apart from loan financing through MMF at one per cent interest rate.
With a range of property featured at the Sheda Property Expo 2022, visitors will be able to spend their time over the weekend to carefully browse, compare and select an ideal property that fits their lifestyle and aspirations.
With external factors affecting the housing and real estate industry such as escalation in building material costs, labour shortage and the increase in OPR levels, Sheda said it is inevitable that the cost of construction will increase considerably in the coming years.
However, Sheda said it believed the best time to buy is now given the foreseeable increase in cost and existing financial assistance available.
The main sponsors of the Sheda Property Expo 2022 are Naim Land Sdn Bhd, Lee Onn Development Sdn Bhd, Chen Ling Development Sdn Bhd and CMS Berhad, through its subsidiary Cahya Mata Sarawak Property Development Sdn Bhd.
The event is supported by the Ministry of Public Health, Housing and Local Government Sarawak (MPHLG), Construction Industry Development Board Malaysia (CIDB) and Centre of Technical Excellence Sarawak (Centexs). — DayakDaily