Someone asked if the Housing Ownership Campaign (HOC) 2019 is only for first-time home buyers. Answer is NO. It is now open to ALL transactions during the HOC 2019 period from 1st January to 30 June 2019. Someone asked if this is for completed properties only since the Ministry of Finance is targeting to clear the unsold and completed property stocks which are said to be sky-high or highest in whatever period. Answer is NO. It is open to ALL properties whether completed or under construction AS LONG as these properties are registered and approved by the Real Estate Housing Developers Association (REHDA). Here’s that actual statement in their press release here.
PROJECT REGISTRATION & CERTIFICATION
– REHDA is the authorized agent to certify the properties participating in HOC.
– Developers are required to submit the name of project, copy of APDL, and other
relevant documents to REHDA Malaysia.
Project registration fees is RM150/unit to RM2,000max for each project for REHDA members. Project registration fees is RM200/unit to RM6,000max for each project for non-members.
Each property from the registered project will then be certified by REHDA Branch after the SPA is signed. Property certification fee is as follow:
All project certifications must be submitted to REHDA by 26 July 2019.
One very important point. The SPA price must be at least 10% lower than the price stated in APDL. All the prices stated must follow the APDL (look at that very small print at the bottom of property advertisements, the approved prices are there). In conclusion, It’s important for all stakeholders to play a part. Not just the Ministry of Finance or REHDA. This includes also the media because they are influencers too. Else I am not sure how long this negative sentiment plaguing the market will end. In fact, if it gets worse, the potential buyers could have even spent their savings on something else and not property! As for whether this will move the market, time will tell. Happy investing everyone.
written on 1st Feb 2019
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