SHAREDA’s Property Development and Market Outlook Report 2019 shows positive market confidence.
We've already talked about the property development report for Sabah in 2018. Moving on, we will now look at Sabah's property market outlook for 2019 as highlighted by the council members of SHAREDA.
The points we are focusing on are:
1. Real Property Gains Tax (RPGT)
2. Home Ownership Campaign 2019
3. Foreign investments, major contracts and mega projects in 2019
4. Tourism in 2019
5. Budget 2019 proposals implementation
Real Property Gains Tax (RPGT)
Malaysian Budget 2019 proposed increasing taxes for property transactions, specifically the Real Property Gains Tax (RPGT). Most notable is the 5% tax that will apply even after 5 years of holding on to the property.
Click here to read RGPT feedback on news.
Home Ownership Campaign 2019
This campaign was launched by the government in 2019 and was jointly executed by REDHA, SHAREDA and SHEDA. It encourages home ownership by offering exemption on Stamp Duties as well as a minimum 10% discount on properties. The campaign helps home buyers to seize properties at a competitive price.
Highlights on stamp duty exemption
What is going to happen in...
Foreign investment, major contracts and mega projects
It is expected that some foreign investments, announcements of major contracts and mega projects will take place due to a more stable political landscape. Among existing projects that affects 2019 market outlook are Pan-Borneo Highway and Aeropod.
On the news..
Tourism in Sabah is expected to continue to do well due to the increase of flights between Asian countries.
Budget 2019 proposals implementation
Public should also look forward to the announcement on the implementation of some of the Budget 2019 proposals such as the peer-to-peer (P2P) and the National Housing Policy Rent-To-Own scheme.
Changes and adjustments of policies by the new government caused the market outlook for 2019 to be unpredictable. Outside opinion might differ but let us hope for the best for Sabah's economic growth. You may read the report compiled by SHAREDA by clicking this link or scanning the QR code provided.