Bina Darulaman Bhd : Budget 2016 should focus on first-time homebuyers

Bina Darulaman Bhd : Budget 2016 should focus on first-time homebuyers

KUALA LUMPUR, October 22 — Property developer Bina Darulaman Bhd (BDB) has expressed hope that the government’s incentives for the property sector in Budget 2016 would continue to ensure that low and middle-income groups can afford a roof over their heads.

“We in BDB pledge to work together with the agencies involved to put into motion efforts to help first-time home buyers and those struggling through home financing to achieve their goal of becoming home owners.

“In the last budget, the government’s move to extend the 50% stamp duty exemption on instruments of transfer and loans agreements and increase the purchase limit from RM400,000 to RM500,000 (until Dec 30, 2016) was timely towards this,” said Group Managing Director Datuk Izham Yusoff in a statement.

BDB, Kedah’s only public-listed government-linked company, also wants banks to introduce more homebuyer-friendly schemes to enable Malaysians to buy their first home, with a focus on houses priced up to RM500,000.

“We also support calls to relax the criteria for loan approvals for first-time home buyers, in addition to Goods and Services Tax (GST) relief for affordable housing and controlled properties,” said Izham.

The company remains committed to working hand-in-hand with both the public and private sectors to develop affordable housing schemes nationwide, he added.