Budget 2019 helps B40, M40 groups to own home

Source: 123rf

2 November, KUALA LUMPUR – Budget 2019 shows government’s commitment to help the bottom 40 per cent (B40) household income group and 40 per cent medium income group (M40) to own a house.

Universiti Putra Malaysia (UPM) Faculty of Ecology lecturer Assoc Prof Ahmad Hariza Hashim said the government allocated nearly RM1.5 billion to build affordable homes for the two groups.

The Sales and Services Tax (SST) exemption on construction services and building materials could also help reduce house prices.

“The government as well as the Real Estate and Housing Developers Association of Malaysia (REHDA) are committed to ensure the increase in home prices is more manageable and stable,” he said.

Finance Minister Lim Guan Eng when tabling the Budget 2019 said Bank Negara would be setting up a RM1 billion fund to finance the first house purchase for those with monthly income not exceeding RM2,300.

He said the fund would be provided from Jan 1, 2019 to purchase affordable houses priced up to RM150,000.