KUALA LUMPUR, March 4 (Bernama) -- The Malaysian Institute of Estate Agents (MIEA) has urged the government and stakeholders to weigh the importance of the secondary residential property market by reviewing incentives, offered during the six-month National Home Ownership Campaign 2019, to be extended to first-time home buyers looking to purchase from the secondary market.
Citing the National Property Information Centre (NAPIC) data, it said the secondary property market makes up about 80 per cent of all residential property transactions in the country, compared to around 20 per cent of new properties (the primary market).
"There are significantly more varieties of homes at affordable prices for first-time home buyers within the secondary property market. Based on this premise, we should allow for the exemption of stamp duties to cover the purchase of homes within the secondary market by first-time buyers
