PETALING JAYA: The sale and transfer of property valued at RM500,000 and below will now be subjected to a 1% conveyancing fee. However, like the old Order, property transactions from licensed housing developers will automatically get between 25% and 35% reduction in fees depending on the value. This means that for a property worth RM500,000, the new conveyancing fee is RM5,000 but will only come up to RM3,500 following reductions. A calculation by the association also showed that with the revision, conveyancing fees were expected to rise between 8.1% and 26.6% depending on the value of property transaction. In Malaysia, both buyers and sellers in a property transaction pay the conveyancing fees to their own lawyers.

Source: thestar March 14, 2017 23:32 UTC