What new initiatives in Budget 2025 support the property sector?

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Budget 2025 Introduces Property Sector Support Measures

Budget 2025 is set to bolster the Malaysian property sector through the introduction of income tax relief on home loan interest payments and a significant increase in the allocation for the Housing Credit Guarantee Scheme (SJKP). These measures aim to enhance homeownership opportunities and stimulate continued growth within the real estate market.
Income Tax Relief on Home Loan Interest

The upcoming budget will provide income tax relief for individuals on their home loan interest payments. While specific details regarding the exact percentage or amount of relief have not yet been elaborated, this initiative is designed to reduce the financial burden on homeowners and prospective buyers. Such relief is a common mechanism to encourage property acquisition by making homeownership more financially accessible.
Enhanced Housing Credit Guarantee Scheme (SJKP)

A substantial RM10 billion additional allocation has been earmarked for the Housing Credit Guarantee Scheme (SJKP). This scheme functions by providing guarantees to financial institutions, thereby enabling individuals, particularly those with no or insufficient credit history, to secure housing loans. The increased funding signifies a commitment to expanding the scheme's reach and assisting a greater number of Malaysians in achieving homeownership.
Continued Positive Growth Expected

These fiscal measures are anticipated to sustain the positive trajectory of Malaysia's real estate sector. Following a robust performance in 2024, where real estate transactions reached RM217.46 billion, surpassing the RM100 billion target, the property market is poised for further expansion. The government's supportive policies and the general confidence in economic growth are expected to foster a dynamic environment for the sector in 2025.

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What new initiatives in Budget 2025 support the property sector?

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