Sheda roadshow a good place to learn more about financing scheme
KUCHING: The upcoming 2nd Home and Property Roadshow 2017, organised by the Sarawak Housing and Real Estate Developers’ Association (Sheda) Kuching branch, will be a good place for home buyers to start capitalising on the new step-up financing (SPEF) scheme.
To recap, the SPEF is a home buying financing scheme that offers higher loan eligibility, significant reduction in monthly home loan instalments at affordable levels and an option to withdraw from our Employee’s Provident Fund Account two.
The scheme was previously restricted to only buyers of the 1Malaysia Housing Programme (PR1MA). However, during Budget 2018, it was extended to private developers based on a certain set of criterias that has not yet been detailed.
C omment i n g on th i s development, organising chair Sim Kiang Chiok said new scheme would greatly assist home buyers with higher loan entitlements and lower rejection rates – allowing buyers with more options during their property hunts.
“While further details have not yet been released on what properties will qualify for the SPEF scheme, our property roadshow will be a good chance for buyers to come and shop for their dream properties first,” he said during a media conference yesterday.
Besides the SPEF scheme, Budget 2018 also saw a 50 per cent tax exemption on rental income received for residential property by resident individuals not exceeding RM2,000 per month.
“I think is good for house owners as they can now generate rental returns with lower income tax.
“While it was never outright said in the budget speech, I think it means that the government is supportive of citizens having a second home as an investment property as now rental returns will be more attractive,” Sim added.
Chiming in on the discussion, Sheda Kuching branch secretary Dr Richard Tan said the tax exemption would also be highly beneficial for first time home buyers.
“Another angle to look at is if you are newly married, you can buy a house and rent out a room to supplement your income, so that rental income can be used to offset your loan payment – making your property much more affordable,” he gave as an example.
With anticipation that the property market will soon recover from its current downturn through measures introduced in Budget 2018, Sim cal led on interested homebuyers to seriously considering buying properties now.
“If you have good credit rating, low debt service ratio and disposable income, now is a good time to buy. The economy is always cyclical in nature, so if you buy now ,you will be ahead of the up- curve.
“There is something for everyone who is interested to buy a property during this roadshow. It is worth coming to have a look,” he asserted.
The Sheda Kuching branch 2nd Home and Property Roadshow – to be held on November 17 to 19 at Boulevard Shopping Mall – will feature various projects both East and Peninsular Malaysia.
Visitors will be able to meet top property developers face-to-face and discover opportunies from a range of areas such as bustling cities like Johor or more rural areas like Sibu and Miri.
Visitors who make purchases form any of the participating booths will also be eligible to join a ‘Buy & Win’ lucky draw whereby participants stand a chance to win the grand prize of a 3M Filtered Water Dispenser worth RM4,299 apart from other attractive electronic items as consolation prizes.
In addition, Sheda Kuching has also invited several nongovernment organisations to join in on the event as part of their corporate social responsibility programme.
“This time, we have invited the Mental Health Association of Sarawak ( MHAS) and Enoch Elderly Association Sibu ( EEAS) to participate in our roadshow,” Sim shared.
“The MHAS will be giving out free mental screenings while the EEAS will share their knowledge on ‘going green’ and the importance of preserving the environment.”
For more information, please contact Angelina Chai at 0198162191 or email at angelina. admin.skb@sheda.org.my.
The public is also encouraged to visit their Facebook page at www. facebook.com/shedakuching for regular updates.