The Malaysian Association of Hotels (MAH) said the tourism and hotel industries are deeply concerned with the lack of immediate assistance to stakeholders suffering from reduced cash flow due to both domestic and international travel restrictions. 

“We know that no job is fully ‘safe’ at the moment and therefore a nudge towards prudence in spending would be more appropriate.”

The association lauded the government’s proposal for a stamp duty exemption on loan agreements and Memorandum of Transfer (MOT) where ‘white knight’ contractors are reviving abandoned projects with the original house buyers of abandoned housing projects be extended for a further five years to December 2025.

Leong commented that overall, Budget 2021 would help to alleviate the people’s burden in owning their homes, which indirectly stimulates the property market.

MIEA president Lim Boon Ping expected the Budget to provide further property market stimulating measures and extension of incentives to the secondary market.

Rehda Malaysia president Datuk Soam Heng Choon: Rehda welcomes the [stamp duty exemption for first residential home] as part of the government’s initiative to encourage homeownership amongst the Rakyat, which was also our Budget Wish list to the government.

“I found this budget has really addressed what the country needs... I like the incentives for businesses to establish themselves in Malaysia, focus on improving infrastructure for existing industrial estates, and of course, spending money to develop new infrastructure,” said Previndran.

Full stamp duty exemption on Memorandum of Transfer and loan agreement for the first home priced below RM500,000. This is for agreements inked from January 2021 to December 2025

The developer also lauded the government's decision to provide Rent-to-Own (RtO) schemes for those eligible under the 1Malaysia People’s Housing Scheme (PR1MA).