Bud­get 2017 ob­ser­va­tions and opin­ions

> Views of in­dus­try pro­fes­sion­als on al­lo­ca­tion for hous­ing and prop­erty

The Sun (Malaysia) - - MEDIA & MARKETING -

THERE is al­ways two ways (or more some say) to look at things. Since the re­cent an­nounce­ment of next year’s bud­get, many have aired their opin­ions. The gen­eral con­sen­sus is that there is noth­ing much to shout about.

Al­though re­ports across me­dia plat­forms quoted in­dus­try pro­fes­sion­als who viewed the fi­nan­cial bud­get as “muted, rel­a­tively neu­tral in im­pact, not enough to ex­cite the mar­ket, mea­sures in­suf­fi­cient to stim­u­late the prop­erty mar­ket” and so forth – this writer is one who sees the glass as half full. With that, we run through Bud­get 2017 and changes to ex­pect in 2017 where prop­erty is con­cerned, along with views of var­i­ous in­dus­try au­thor­i­ties. to en­cour­age home own­er­ship, it also pro­vided for rail­way lines and trains to help boost con­nec­tiv­ity, growth, do­mes­tic de­mand and the econ­omy. “The 2016 bud­get was crafted to help raise GDP to 5% in 2017 as op­posed to the un­ex­pected growth of 4% to 4.5% in 2016.” On the re­cent bud­get an­nounce­ment, Lau felt that the gov­ern­ment has con­tin­ued to re­strain spend­ing, “bud­get­ing for a 3% fis­cal deficit”. Her over­all view – “It ac­cel­er­ates growth, en­sures fis­cal pru­dence and en­hances the well-be­ing of the rakyat.”

Shar­ing his view, IJM Cor­po­ra­tion Ber­had CEO and man­ag­ing di­rec­tor Datuk Soam Heng Choon said: “We ap­plaud the gov­ern­ment’s ef­fort to pro­vide more af­ford­able hous­ing projects catering to both the B40 and M40 group. The step-up fi­nanc­ing pro­posal for PR1MA homes will fur­ther en­cour­age higher el­i­gi­bil­ity for loans to en­able own­er­ship. First-time home buyers will fur­ther ben­e­fit from the 100% stamp duty ex­emp­tion for the first RM300,000 for pur­chase of prop­erty RM500,000 and be­low.”

REA Group’s in­ter­na­tional COO Arthur Char­laftis how­ever com­mended the gov­ern­ment in tak­ing mea­sures to as­sist first-time home buyers via the “step-up” end­fi­nanc­ing scheme and in­creas­ing the num­ber of af­ford­able houses. “Bud­get 2017 has cer­tainly made it eas­ier for first-time home buyers to own a home. Even though the De­vel­oper In­ter­est Bear­ing Scheme was not rein­tro­duced and no new mea­sures were crafted to curb es­ca­lat­ing house prices, the gov­ern­ment has in­tro­duced other mea­sures to make it eas­ier for first­time home buyers to get into the prop­erty mar­ket,” he said.

Email your feed­back and queries to: prop­er­tyqs@ the­sundaily.com

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