Budget 2015 – Property Related, Overall Summary

Yesterday, every major newspaper has Budget 2015 as its deadline. Today, every major newspaper has Budget as its headline. Not just newspaper but every online sites and perhaps every Malaysian business related sites. Ok, what should kopiandproperty.com publish today? Haha. Yes, let’s start with Budget 2015. In a glance, everything related to property is as listed below, together with an easy to understand explanation of what it entails. Actually quite a lot of good news for the continuous development of new popular areas.
Highways confirmed:
Sungai Besi – Ulu Kelang Expressway (SUKE) – RM5.3b
Damansara – Shah Alam Highway (DASH) – RM4.2b
Eastern Klang Valley Expressway (EKVE) – RM1.6b
Public Transport related:
LRT3 – Bandar Utama to Shah Alam and Klang  – RM9b
MRT Line 2 – Selayang to Putrajaya – RM23b
East Coast railway upgrade – RM150 m
30% discount on monthly fares from Rawang, Klang and Seremban to KL on intercity bus services for those working in KL
ETS – Ipoh to Butterworth to start from April 2015 (This is a great news for my parents, visiting my brother in Penang)
Housing, Affordability and Availability
143,000 low cost units to be built
Limited to 20,000 units. First home loan, up to RM500,000 for MARRIED youth, ages 25 – 40 with household income less than RM10,000
50% stamp duty exemptions on transfer / loan agreements
Household income eligibility ceiling for PR1MA raised to RM10,000
With great powers, come great responsibility. Well, with MORE highways, come MORE high-rises. I think if the traffic can be better, of course  many people may think about staying slightly further away instead of ‘killing’ each other trying to buy where everyone wanted to buy and thus pushing up the prices. As soon as you look slightly further away, prices come down a lot.
MRT Line 2 is now confirmed! Selayang to Putrajaya. I drove to Selayang the other day, I think it’s already having lots of population but there are still lots of land for it to develop. I think the MRT Line is starting at the right place. Two weekends ago, I drove to Putrajaya. It is a place which everyone told me is a ‘dead’ place. Somehow I like the environment there, roads are huge, parks are available and there’s even a man-made beach for those who just want to do a selfie of yourself at the beach. Anyway, MRT means ‘More Rakyat Transportation’, according to me.
LRT3 – Bandar Utama to Shah Alam and Klang. I think the linkage is more for the stops in between. As usual, the more availability, the better. Stop complaining there’s no public transport within a few years’ time. In the mean time, sorry, just stay calm and do your best. At least, it’s now confirmed,  coming.
If you are not married, too bad. Better get married fast to be entitled to the first 20,000 units of RM500,000 and below home loan if you first time buying your first home. I think this is a very attractive deal and everyone should aim to get this first. For those who do not quality, there’s still PR1MA and other affordable housing projects by the state governments. Now, household income eligibility for PR1MA is up to RM10,000. I think even more are qualified. Just do not waste this opportunity.
I know, as usual, there are lots more which can be done but as soon as the fuel subsidy is rationalised further and the GST starts, the money saved would hopefully be used for productive purposes. Help the needy, that’s the priority.
written on 11 Oct 2014
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