News: Mah Sing’s Response To Budget 2021 Announcement

Nov 10, 2020

Mah Sing Group Berhad welcomes the Budget 2021 announcement for encouraging home ownership through several initiatives announced in Budget 2021 as this would help to alleviate the people’s burden in owning their homes, which indirectly stimulate the property market.

The announcement of full stamp duty exemption on the instruments of transfer and loan agreement for the purchase of first residential properties worth up to RM500,000, starting from 1 January 2021 until 31 December 2025 will definitely help to boost home ownership within these 5 years, especially for first time home buyers.

Mah Sing’s products positioning is in line with the government’s direction as 51% of our 2020 sales target are within this range, and 63% of our home buyers are below the 35 years old bracket, which are likely to be first time home buyers.

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Mah Sing will also continue to align its strategy to offer affordably priced homes at strategic locations to cater to the needs of the current markets. In addition, Mah Sing will continue to assist homebuyers through our existing attractive sales campaign such as Mah Sing’s Eazy to Own Campaign, where home buyers can benefit from HouzKEY, offered via a collaboration with Maybank Islamic. This innovative home financing solution enables home buyers to own their ideal home today with easy entry and low monthly instalments. 

Additionally, Mah Sing applauds the government for allocating RM15 billion in 2021 for the transport infrastructure projects such as Lebuhraya Pan Borneo, Gemas-Johor Bahru Electrified Double-Track Project (EDTP), Klang Valley Double Tracking Phase 1 (KVDT1), Johor Bahru-Singapore Rapid Transit System (RTS) and Mass Rapid Transit Line 3 (MRT3) in Klang Valley, which would indirectly benefit many sectors including the property industry.

As for Mah Sing, some/several of our projects are located nearby and this would help to improve the location’s attractiveness and desirability to live.

While the implementation of DIBS was not announced in Budget 2021, we hope the government will again reconsider them in the future.

Mah Sing is open and ready to discuss with the government on the matters with other relevant stakeholders and will look forward to a win-win outcome which will benefit all parties.

 

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Patrick Koh
Real Estate Negotiator
REN: 37857
THE ROOF REALTY SDN. BHD.
property8113@gmail.com
(+60) 14-7377152