Penangites frustrated by high home prices despite stamp duty exemption

PERMATANG PAUH - Penangites are frustrated by the high cost of home ownership in the state, despite a 100 per cent stamp duty exemption on instruments of transfer and loan agreements for properties priced RM500,000 and below.

Speaking to Sinar Daily, Permatang Pauh MP Muhammad Fawwaz Mohamad Jan said that all races in Penang are affected by the issue, not just Malays.

"A house is a basic need for every rakyat. So my question is, where does DAP say that they are fighting for Penang?

"They (DAP) said that they are giving something big to the Malays. It’s not true.

"The reality here is that Chinese and Indians are depressed about the issue of home ownership.

"So where does DAP say they are fighting for the rights of the people of Penang?" Fawwaz questioned.

He added that the stamp duty exemption is not enough to make home ownership affordable for many people in Penang.

"The prices of houses in Penang are still too high. Even with the stamp duty exemption, many people cannot afford to buy a house," he said.

Fawwaz urged the government to take more measures to address the issue of high home prices in Penang, such as providing more affordable housing options.

The stamp duty exemption is part of the state government's efforts to boost the property market and help first-time homebuyers.

However, the exemption is not enough to make home ownership affordable for many people in Penang.