More property owners keen to sell now, say estate agents

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A government stimulus package has led to more interest among owners wishing to sell their property, say estate agents.PETALING JAYA: Real estate agents say they are receiving more calls from house owners keen to sell off their property because of cheaper loans to buyers and an exemption on property tax for sellers. Lim Boon Ping, president of the Malaysian Institute of Real Estate Agents, said the government had provided incentives to stimulate the market. Interest rates on loans are now around 3%, causing monthly repayments to be lower. The Penjana economic stimulus package for property announced on June 5 provides an exemption on the Real Property Gain Tax on property sales. Under the Penjana package, a 70% margin of financing limit applicable for 3rd new residential property valued at RM 600,000 and above has been uplifted. The package also provides stamp duty exemptions for sa…