KUALA LUMPUR: Malaysia is considered the most borrowerfriendly housing market among six Asia-Pacific nations, ahead of Indonesia, Vietnam, Thailand, South Korea, and Japan, according to international real estate technology group Juwai IQI.
In a statement yesterday, its co-founder and group chief executive officer, Kashif Ansari, said this favourable environment helps homebuyers and homeowners build financial independence.
“It also adds stability and predictability to the housing market.
This is a huge net benefit for the country as a whole. Because of Malaysia’s strong financial system and regulatory environment, homebuyers pay less than half of what buyers in Indonesia pay for their home loans,” he said.
Kashif noted that these factors make Malaysia one of the most stable and borrower-friendly markets among comparable AsiaPacific nations.
He added that Malaysian borrowers also enjoy a level of transparency that is rare in Southeast Asia, which protects them from low teaser rates that can spike after three years, driving mortgage payments up by around 50 per cent, as observed in Thailand and Vietnam.
“Malaysia is also unique because banks are required to be transparent about charges.
Banks levy a premium above the Standard Base Rate. For example, if one bank offers ‘SBR + 1.45 per cent’ while another promises ‘SBR + 2.0 per cent’, borrowers clearly know their mortgage will be cheaper with the former,” he explained. Kashif also highlighted that many Malaysian first-time buyers benefit from full stamp duty exemptions.
Under the latest budget, the government has extended this exemption for firsttime buyers of homes priced up to RM500,000 until Dec 31, 2027. – BERNAMA
