{"id":65459,"date":"2023-03-13T17:52:30","date_gmt":"2023-03-13T09:52:30","guid":{"rendered":"https:\/\/www.iqiglobal.com\/blog\/?p=65459"},"modified":"2026-01-09T16:06:58","modified_gmt":"2026-01-09T08:06:58","slug":"juwai-iqi-budget-2023-benefits-first-time-homebuyers-supports-affordable-housing","status":"publish","type":"post","link":"https:\/\/iqiglobal.com\/blog\/juwai-iqi-budget-2023-benefits-first-time-homebuyers-supports-affordable-housing\/","title":{"rendered":"Juwai IQI: Budget 2023 benefits first-time homebuyers, supports affordable housing"},"content":{"rendered":"\n

In light of Budget 2023 that was re-tabled this past February, first-time home buyers are expected to benefit as stamp duty exemptions and assistance for gig economy workers to obtain mortgages greatly increases their purchasing power.<\/p>\n

Juwai IQI co-founder and CEO Kashif Ansari expresses optimism towards the egalitarian approach to the budgetary measures in terms of affordability and in meeting growing housing needs.<\/p>\n

“There are more than four million gig workers in Malaysia, and these individuals usually have no fixed income. That makes it hard for them to obtain a traditional mortgage from a bank to buy a home. The housing credit guarantee for gig workers will help as many as 20,000 Malaysians buy their own home and take a giant leap forward in creating financial security for their families,” he said.<\/p>\n

He adds that “”…there should be as little friction as possible when it comes to buying or selling your home. It’s a stressful transaction and one of the largest most people will ever make in their lives. Exempting buyers from stamp duty eliminates one of the difficulties.”<\/p>\n

The barriers to owning homes are further relaxed as RM2.2 billion will be allocated towards building new affordable housing and further financial aid will be provided to low-income housing initiatives, PPR chief among them.<\/p>\n