Malaysia Budget 2027: nearly RM1b for housing, new first-home buyer stamp duty breaks
Malaysia's Budget 2027, tabled by Prime Minister Anwar Ibrahim, allocates nearly RM1 billion for housing, expands first-home buyer stamp duty exemptions, and introduces new projects including Bandar MADANI Bukit Jalil. The budget also includes RM20 billion in financing guarantees for self-employed b
Malaysia's Budget 2027, tabled by Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim in the Dewan Rakyat on Oct 9, sets aside nearly RM1 billion for housing programmes, expands first-home buyer incentives, and announces new residential developments, including Bandar MADANI Bukit Jalil.
The allocation covers the Rumah Mesra Rakyat and Program Residensi Rakyat schemes, and four new housing projects are planned in Kulai, Johor; Nilai, Negeri Sembilan; Paya Rumput, Melaka; and Lembah Pertang, Terengganu. Bandar MADANI Bukit Jalil, a residential development with supporting amenities including vertical schools, will open registration for its first phase on Monday, Oct 12.
The government will provide financing guarantees of up to RM20 billion through Syarikat Jaminan Kredit Perumahan (SJKP), expected to assist 80,000 first-time homebuyers, particularly self-employed individuals without fixed incomes. The measure aims to help buyers who face difficulties obtaining housing financing due to irregular earnings.
Budget 2027 proposes full stamp duty exemptions on loan agreements and property transfer instruments for first homes priced up to RM500,000. For first homes priced up to RM750,000, the proposal provides full exemption on the first RM500,000 and a 50 per cent exemption on the remaining amount. These exemptions apply to sale and purchase agreements completed between Jan 1, 2027, and Dec 31, 2030.
A separate stamp duty exemption covers properties involved in the rehabilitation of abandoned housing projects, applying to loan agreements and transfer instruments executed by rescue contractors or developers and original purchasers. This measure, effective from Jan 1, 2027, to Dec 31, 2030, supports the government's target of zero abandoned housing projects by 2030.
The budget also highlights affordable housing on Malay Reserve Land in Kuala Lumpur, with 50 acres gazetted and PETRONAS developing the first 10 acres. Additionally, 50 acres of strategic land around Kuala Lumpur, valued at RM1 billion, will be a new endowment for Yayasan Pelaburan Bumiputra.
For urban People's Housing Programme (PPR) communities, the government will introduce Komuniti Angkat MADANI with RM50 million, providing shared kitchens, business equipment and skills training. The budget also includes RM3.3 billion for rural basic infrastructure, RM400 million for green spaces and public housing upgrades in Kuala Lumpur, and the gazetting of 100 acres of leased land in Bukit Kiara as a federal park.
Financing guarantees of up to RM20 billion through Syarikat Jaminan Kredit Perumahan (SJKP) are expected to assist 80,000 first-time homebuyers, particularly self-employed individuals without fixed incomes. The budget also proposes full stamp duty exemptions on loan agreements and property transfer instruments for first homes priced up to RM500,000, with a partial exemption for those up to RM750,000, applicable to sale and purchase agreements completed between Jan 1, 2027, and Dec 31, 2030.
For abandoned projects, a stamp duty exemption will cover loan agreements and transfer instruments executed by rescue contractors or developers and original purchasers, part of the government's goal of zero abandoned housing projects by 2030. The budget also highlights affordable housing on Malay Reserve Land in Kuala Lumpur, with PETRONAS developing the first 10 acres of a 50-acre gazetted site.
