Lopez Denis also says the current scheme has created an inflationary impact on new dwellings, making them even more unaffordable than before.
“Expanding the grant to existing properties will expand the choices for this segment and permit access to more affordable options to enter into the property market. Although a first home owners grand will not be enough for this segment to enter into the market, it’ll definitely be a key contributor to stimulate this segment.”
Finsure CEO, John Kolenda, goes one step further, saying FHBs looking at purchasing new properties also need additional help.
“I believe we need to reinstate packages for both existing and new with a bigger incentive for new homes. That segment of the market has been in the doldrums for a few years and any worthwhile incentive would be welcome to support a struggling economy.”