IPOH: The Local Government Development Ministry hopes the number of homeowners in the country will increase following the announcement of the stamp duty exemption for first-time home buyers.
Minister Nga Kor Ming said to date, 76.9 per cent of Malaysians had owned their first houses and hoped the number would increase.
"We will make sure that every Malaysian owns a home - a shelter and a roof over their heads.
"We are targeting more Malaysians to have a place that they can call home. This is very important to help more people in the country own their first home," he said after visiting Kampung Simee Market here today.
Nga said the initiative was mooted by the ministry and he thanked Prime Minister Datuk Seri Anwar Ibrahim, who is also finance minister, for agreeing to the proposal.
"I call for all housing developers to take this opportunity to launch and promote their property.
"With this discount, those who bought the house could save up more than RM20,000 of the stamp duty," he said.
On Friday, the Finance Ministry in a statement said that first-time house buyers would continue to enjoy a 100 per cent stamp duty exemption for purchases not exceeding RM500,000 via the Malaysian Home Ownership Initiative (i-Miliki) as provided for under the 2023 Budget.
It said a 75 per cent stamp duty exemption would also be given for first-time homeownership for houses priced at between RM500,000 and RM1 million under the i-Miliki initiative.
Nga added that he just returned from Africa and Malaysia had been identified as a model for many developing countries.
"They would very much like to learn from our country. The Kenya Housing Minister will come to our country to learn more about this (property development)," he added.
During his working visit to Ipoh here, Nga also announced a RM3.46 million allocation for upgrading the infrastructure at the market, drainage and road works.
The projects involve upgrading Kampung Simee Market, road works in Persiaran Lapangan Siber 1, Jalan Sungai Pari, First Garden Flat; replacing the gutter at Dataran Niaga Taman Cempaka and building new drains in Lorong Isaac, Buntong.