Continuous efforts should be made to bring down the cost of home ownership in the country, says Rehda Malaysia.
“The increase in legal fees for property-related transactions compounds the potential inflationary effect of the fees, in which homebuyers will be affected not only by the increase in fees from the rising prices of properties but also by the increase in the percentage of fees collected,” it said.
“Rehda will continue to encourage our members to uphold our nation-building role of providing quality, affordable homes for the rakyat in a timely manner,” it added. The changes also enable property transactions from licensed housing developers to automatically get up to a 50% reduction in fees, depending on the value.
Conveyancing basically covers non-litigation work that includes sale and purchase agreements, tenancy agreements, lease agreements, transfers, loans and assignments.
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