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KUALA LUMPUR, Jan 28 — The provisions in the revised Budget 2016 for affordable homes will boost the housing sector, property company Malaysian Resources Corporation Berhad (MRCB) said today.
Tan Sri Mohamad Salim Fateh Din, group managing director of the government-linked corporation (GLC), also welcomed the RM2,000 tax relief for those earning below RM8,000 a month, saying it would increase private consumption and stimulate investment in the property market.
“The revised budget has addressed the needs of businesses, employees and the rakyat through various incentives for growth,” Mohamad Salim said in a statement.
“As a property and construction company, MRCB welcomes the stimulus for affordable homes which will help to steer the housing sector to be more robust and vibrant.
“Additionally, the implementation and continued commitment for major projects such as the LRT and MRT projects will further enhance public mobility and ease road congestion,” he added.
Prime Minister Datuk Seri Najib Razak announced earlier today in the Budget 2016 revision that the sale of houses priced below RM300,000 will be limited to first-time house buyers.
For the public housing project involving houses that cost RM35,000, the government will offer, through Bank Simpanan Negara and Bank Rakyat, a financing package at a rate of 4 per cent for more than 10,000 homeowners starting March 1.
The prime minister also said more than 100,000 housing units will be offered in the government’s integrated house ownership programme.