This archive report was first published on 8 June 2020.
As the government prepares to unveil the 2020-2021 Budget, real estate players are eagerly awaiting measures to drive growth in the sector.
With the COVID-19 pandemic still affecting the economy, the sector is in dire need of support to reduce the housing deficit and create jobs.
Some of the expected measures include reducing home loan interest rates to make homeownership more accessible, offering a one-year tax holiday to developers struggling with the pandemic's impact, and reducing taxes on construction materials to stimulate construction activities.
These interventions are expected to boost the sector's growth and maintain its upward trend, as real estate players remain hopeful that the government will prioritize measures to support the construction sector.
With the Affordable Housing Program aiming to construct 500,000 new affordable housing units, the government's commitment to this program is expected to have a positive impact on the sector.
