Affordable Housing Boost:

We urge the government for continued roll out stimulus packages targeting affordable housing. These packages should offer tax incentives to developers championing affordable projects and empower low-income homebuyers through subsidies. This immediate action eases the affordability crisis while revitalizing the real estate sector.

Infrastructure Momentum:

Emphasizing the pivotal role of infrastructure, we call for continued investments. The buzz surrounding the KL-SG HSR project exemplifies how transit-oriented developments can invigorate Malaysia’s economy in the short term. The short-term infusion of investment in infrastructure promises not only economic stimulation but also the creation of vibrant, liveable communities that cater to a diverse range of citizens. Prioritizing connectivity and accessibility enhancements in key property zones, such as expanding public transportation networks and upgrading road infrastructure, will not only attract investors but also fuel economic growth.

Sustainable Urban Transformation:

For the long haul, we champion unwavering commitment to sustainable urban planning. This entails enforcing robust environmental regulations and offering enticing incentives for developers embracing green building practices. This enduring strategy promises lasting rewards, including a reduced environmental footprint and heightened allure for eco-conscious buyers. By embracing sustainability as a cornerstone, Malaysia’s property sector can chart a prosperous and environmentally responsible future. As eco-consciousness continues to rise among citizens, these developments become more than just a choice; they become a symbol of progress and responsible stewardship.

Government Policies and Housing:

In terms of government policies and housing, there is a call for investor-friendly regulations and streamlined government procedures to attract investment, along with a revival of the Home Ownership Campaign (HOC), which has proven effective in encouraging homeownership, increasing property sales, and addressing the issue of property overhang. Affordable housing for locals is also emphasized, with suggestions to reduce compliance costs in order to improve project feasibility and manage house prices more effectively. Additionally, public-private partnerships are seen as a viable solution to revive abandoned projects, and to consider revisiting the RPGT base year adjustment (currently on 1st January 2013) for tax purposes and stamp duty waivers are proposed for overhang units to further alleviate the issue of unsold properties.

Sustainability and ESG:

On the sustainability and ESG front, tax incentives for building owners to implement energy-saving measures and ESG initiatives are recommended. There is also strong support for government efforts to promote sustainable energy use, mitigate climate change, and drive the country’s transition to a low-carbon economy through the adoption of energy-efficient technologies and renewable energy. Property developers incorporating ESG elements into their projects should be incentivized, further aligning the real estate sector with global sustainability goals. Tax incentives be extended not only to building owners but also to SMEs that have embarked on the ESG journey, encouraging broader adoption of sustainable practices across different business sizes.