It’s Time! Buy Property in Johor Bahru Now to Enjoy Stamp Duty Exemptions

Written by meridinOctober 11, 2022

When starting to buy a home, the talk of the stamp duty exemption will definitely crop up. But to new homebuyers, it might be something you are unsure of. 

So, if you are thinking of buying a property for sale in Johor Bahru (JB), read up on the stamp duty exemption, as we will cover what you need to know so you can get the home you want. 

Under Stamp Duty Before Buying a House for Sale in JB 

When buying property in JB or a house in general, you don’t only take into account the purchase price. Instead, there are other costs such as legal fees, Real Property Gains Tax (RPGT),  Memorandum of Transfer (MOT), and stamp duty. 

Stamp duty is actually a tax charged by the government that includes a fee on legal documents upon purchasing a property. In Malaysia, stamp duty is charged for documents like an instrument of transfer and loan agreement. In short, stamp duty is a fixed amount of tax for the instrument of transfer (Fixed Duties) in accordance with the value of the loan agreement (Ad Valorem Duties).

Here, we’ll explore more on stamp duty which will be carried forward until December 2023. The stamp duty exemption is carried out in line with the Keluarga Malaysia Home Ownership Initiative (iMILIKI), which started on June 1, 2022. 

The calculation of stamp duty fees depends on the price of the house for sale in JB that you want, as it is a percentage of the purchase price. Here are the percentages:

  • First RM100,000: 1% of property price
  • RM101,000 to RM500,000: 2% of property price
  • RM500,001 to RM1 million: 3%
  • More than RM1 million: 4%

Are You Eligible for the Stamp Duty Exemption if You Buying Property Now?  

If you are a first-time homebuyer, then yes – you are eligible for a 100% exemption for stamp duty. So, if your first property is a house for sale in JB priced less than RM500k, then go for it. 

Should You Buy a New House for Sale in JB?  

Yes! Now is a great time to buy that Johor Bahru house you have been eyeing, especially considering that you can save thousands which could be a harsh bite for many. On top of that, new property in Johor Bahru, such as Meridin East, has many landed residential projects that are great as an investment for own-stay. 

Meridin East, a 1,313-acre gated lake garden community, is strategically located in the Eastern Gateway of Iskandar Malaysia. Connected to modern highways, its residents enjoy easy access to Johor Bahru and other key landmarks. 

Meanwhile, the direct-access road, which is set for completion in 2022, will give residents even better access to their house in JB. 

Other than that, properties in Johor Bahru, Meridin East, have ample outdoor activity space that makes it great for families! Here are a few houses for sale in Johor Bahru at Meridin East to check out.

  • Meridin East: Collection of terrace house to stay with your family – 18’x65′, 20’x65’, 22’x70’. New phase is open for registration!

Check out all properties for sale in Johor Bahru by Meridin East here, and find your dream home now. 

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