KUALA LUMPUR (Oct 19): LBS Bina Group Bhd said it is imperative for Budget 2017 to continue being rakyat-centric, particularly in making homes within reach for first time home buyers.

As such, the property developer is hoping the upcoming bidget will address areas such as easier access to home financing, incentives and measures to improve the earnings of those from middle income groups.

In a statement today, LBS Bina managing director Tan Sri Lim Hock San said it is hoped that Budget 2017 will include offering an exemption for stamp duty on loan agreements involving properties under RM500,000, and greater flexibility with housing loan policies.

He added that further tax incentives or allocations could promote the development of new township projects.

On his outlook, Lim believes the current key interest rate at 3% will remain accommodative to home buyers, while supporting steady economic growth.

He also expects inflation to be at the lower end of the 2% to 3% range for 2016, and will remain relatively stable in 2017, given the environment of low global energy and commodity prices, as well as generally subdued global inflation.

“We believe Bank Negara Malaysia's expectations for the economy to grow at 4% to 4.5% this year, is achievable. This is supported by the demand for homes, particularly affordable homes, by Malaysia's younger demographic population.

“LBS Bina is equally optimistic about our steady growth, as we have strategically aligned our growth plans to suit the current market environment. Our offerings continue to enjoy a steady demand, and we are optimistic of achieving our sales target of RM1 billion by year end,” said Lim.