Budget 2021 set to strengthen tourist offerings - Airbnb

Airbnb head of public policy (Southeast Asia) Mich Goh said various forms of financial aids announced in Budget 2021 would enable tourism players to continue weathering challenges brought by the COVID-19 pandemic, particularly the host community and micro-entrepreneurs.

“Airbnb will continue to discuss with the government to ensure these incentives are extended to regular Malaysian hosts, whose livelihoods have been significantly impacted by this health and economic crisis,” she said in a statement.

Finance minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz tabled Budget 2021 in Parliament on Friday.

According to global advisory firm Oxford Economics, bookings made via the Airbnb platform contributed as much as RM3.98 billion to Malaysia’s gross domestic product (GDP) in 2019.

Meanwhile, PropertyGuru Malaysia country manager Sheldon Fernandez said the budget prioritised job creation and economic drivers such as MyStep with the proposed allocation of RM700 million to open up 500,000 contractual jobs in the civil service and government-linked companies (GLCS), as well as a RM1 billion allocation for upskilling and reskilling programmes.

“It is imperative to foster job creation and economic growth which, in result, will also impact the property market.

“To encourage first-time homeowners, full stamp duty exemption for properties priced RM500,000 and below is a welcomed move, especially with 81 per cent of Malaysians intending to purchase a home by end-2021, according to our recent survey,” he said.

On another note, SP Setia Bhd president and chief executive officer Datuk Khor Chap Jen hopes the government would consider taking over the responsibility of building affordable housing for the B40 (household income group) as this would enable a more cohesive, consistent and efficient macro implementation and results.

"Developers, meanwhile, could concentrate fully on the free market housing. Developers can contribute to a fund for this purpose,” he said.

Khor said the government's decision to spend on mega infrastructure projects is a big boost to the overall economy as it will impact the entire supply chain and rejuvenate the economy, while encourages the real estate development over a larger area.

-- BERNAMA