Penang stands to benefit from several initiatives announced under Budget 2027, particularly in industrial investment, water security and housing affordability.
Key announcements relevant to Penang include:
- Stamp duty exemptions for first-time homebuyers: Eligible buyers purchasing their first homes priced up to RM500,000 will receive full stamp duty exemptions on loan agreements and property transfer instruments. For homes priced above RM500,000 up to RM750,000, the first RM500,000 will be fully exempt, while the remaining amount will receive a 50% exemption. The exemptions apply to sale and purchase agreements signed between January 1, 2027, and December 31, 2030.
- RM20 billion in housing financing guarantees: Syarikat Jaminan Kredit Perumahan (SJKP) will provide financing guarantees to assist 80,000 first-time homebuyers, particularly self-employed individuals without fixed incomes. This could improve access to housing loans for eligible Penang residents.
- Stamp duty exemptions for abandoned housing projects: Full stamp duty exemptions will be granted to eligible rescue developers and original purchasers involved in abandoned housing projects from 2027 to 2030.
- RM100 million strategic investment fund: Khazanah Nasional Bhd and InvestPenang will establish a fund to support early-stage semiconductor and advanced manufacturing companies. This could strengthen Penang’s position as a major E&E hub, attract investments and create skilled jobs.
- 40-year water supply agreement with Perak: The long-term bulk water supply deal could help strengthen Penang’s water security, supporting future industrial expansion and population growth.
