50%

In the Federal Budget 2015-16, the markup on housing loans obtained by individuals for construction or buying a house can now be deducted by up to half of the taxable income. However, the interest rates are high at about 15-18 per cent, especially when compared to markets such as India (8-12 per cent), China (7-8 per cent), Hong Kong (2.15 per cent) and Japan (2.7 per cent).