2019 is it a Good Timing to Buy House?

House from RM300,000 to 2.5 million – Discount in half year only – Free Stamp Duty

Finance Minister Malaysia pointed out that during the “Home Ownership Campaign” (HOC) from January to June 2019, the government offered stamp duty concessions and developers offered a 10%-20% discount.

S&P (Sale And Purchase Agreement) and Loan Agreement Lawyer Fee:
First RM 500,000 = 1%
Next RM 1,000,000 = 0.8%
Next RM 3,000,000 = 0.7%
Next RM 5,000,000 = 0.6%
The following Lawyer Fee = 0.5%

STAMP DUTY SCALE
(From 1st January 2019 to 30 June 2019)
First 1% : RM100,000 【FREE】
Next 2% : RM100,001 – RM500,000 【FREE】
Next 3% : RM500,001 – RM1,000,000 【FREE】
Next 3% : RM1,000,001 – RM2,500,000

(From 1st July 2019)
First 1% : RM100,000
Next 2% : RM100,001 – RM500,000
Next 3% : RM500,001 – RM1,000,000
Next 4% : RM1,000,001 – RM2,500,000 (New!)

LOAN AGREEMENT STAMP DUTY
(From 1st January 2019 to 30 June 2019)
0 To RM2,500,000【FREE】
0.5% : RM2,500,000 ++

(From 1st July 2019)
Stamp duty on loan amount = 0.5%

Total how much we can save if we purchase before July 2019?

Example RM700,000 house
20% : RM140,000
S&P : RM15,000
Loan : RM3,150

TOTAL SAVE : RM158,150