KUALA LUMPUR (Oct 9): MK Land Holdings Bhd (KL:MKLAND) said efforts to improve homeownership under Budget 2027 must be matched by continued action to contain construction, regulatory and housing delivery costs, which remain key pressures on developers’ ability to provide competitively priced homes.
Its chief operating officer, group planning & corporate services, Nazri Tumin, welcomed the RM20 billion allocation for housing financing guarantees under Syarikat Jaminan Kredit Perumahan and expanded stamp duty exemptions for first-time homebuyers.
The measures include full stamp duty exemption for first homes priced up to RM500,000 and partial exemption for properties priced up to RM750,000.
“Improving access to housing financing and reducing upfront purchase costs are important steps towards making homeownership more accessible, particularly for first-time buyers,” Nazri said.
“We also welcome the government's recognition of rising construction costs through measures such as the reintroduction of the Variation of Price (VOP) clause, alongside efforts to improve administrative efficiency and strengthen workforce productivity,” he added.
The government’s reintroduction of the VOP clause helps address the immediate impact of rising construction costs, while measures to streamline administrative processes and improve workforce productivity could help reduce cost pressures over the longer term, said Nazri.
“While these are encouraging developments, continued attention to construction costs, regulatory processes and the overall cost of housing delivery will be important in ensuring developers can sustainably provide quality homes at competitive prices,” he said.