In its Property Market Report 2018, JPPH said high rise units formed the bulk of the overhang units, representing 43.4% (14,031 units) of the total. JPPH said the residential sector saw 197,385 transactions worth RM68.75bil recorded in 2018, an increase of 1.4% in volume and 0.4% in value. Meanwhile, the number of new launches in 2018 recorded 66,040 units, which was a contraction of 14.9% as compared with 77,570 units in 2017. For houses sold above RM1mil to RM2.5mil, stamp duty exemption applies for the first RM1mil, and the rest will be charged at 3%. Stamp duty on loan agreements for properties up to RM2.5mil would be exempted, compared with the previous rate of 0.5%.

Source: thestar April 30, 2019 03:33 UTC