I love Sabah and I think this is a state with lots of potential and opportunities. Property investment is certainly one of them. We should note that the second busiest airport in Malaysia is actually Kota Kinabalu and not any other major cities in Malaysia. (as per end 2017) There are always new developments every time I drop by its capital; Kota Kinabalu (KK). By the way, I go to KK once per year (at minimum) and will be going to KK again in March 2019 to speak in the largest property expo in Sabah organised by The Sabah Housing and Real Estate Developers Association (SHAREDA) and Property Hunter. I have even successfully climbed Mount Kinabalu (highest peak in South East Asia) TWICE! (read my experience here)
The upcoming Home Ownership Campaign Expo 2019 will be held on 1-3 March at Dewan Foo Chow. Within the expo, visitors can learn and take advantage of schemes introduced by the government to help homebuyers such as the exemption of stamp duties on properties ranging from RM300,000 to RM1 mil between 1 January to 30 June 2019. For residential properties ranging from RM1 mil to RM2.5 mil, there will even be a 3% stamp duty exemption. These exemptions are only applicable to properties under developers registered under SHAREDA, REHDA (Real Estate and Housing Developers’ Association) and SHEDA (Sarawak Housing and Real Estate Developer Association), respectively.
I echo Elson Kho, Director at Property Hunter’s belief. He said, “Homebuyers should take advantage of the free stamp duty promotion, which amounts to a significant saving. If you are considering buying your own house, we strongly encourage you to visit the expo and learn about all the benefits and incentives that the government is offering, as well as check out the discounts and packages offered by the developers.” These initiatives are part of the National Home Ownership Campaign initiated by the government where developers will offer 10% discounts on existing unsold properties following the exemption of the sales and service tax (SST) on basic construction materials. The Ministry of Finance has also delayed the implementation of the new real property gains tax (RPGT) as per the Budget 2019 to July 2019. Article in PropertyHunter about the expo here.
See all of you there. Mark your dates; 1st – 3rd March 2019 @ Dewan Foo Chow.
written on 11 Feb 2019
Next suggested article: KKIA too popular. Expansion is necessary.