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HOC 2019? 20 pct discount, please?

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Remember the good news about Home Ownership Campaign 2019 where developers promised a 10 percent discount of all homes whether completed or in construction? Earlier article here: Buy, Buy, Buy is Back? Then, it was also clarified that it’s applicable to ALL buyers during the campaign period and not just first-timers? Here’s that earlier article: Not just for first-time home buyers Well, it seems that there’s another piece of good news if what our Finance Minister Lim Guan Eng announced is followed through by the developers. He asked developers to offer discounts which is double what was committed. Instead of 10 percent, he asked for 20 percent instead. Article in TheMalaysianReserve.com

The discount is hoped to help clear the RM20 billion worth of backlog in the housing market. Lim said the effort is in line with the government’s mea-sure to tackle the overhang in supply, but also improve homeownership for the public at large. Reported earlier was the HOC event in March 2019 where 30,115 units of unsold homes worth RM22.5 billion nationwide will be on sale at double digit discount. (10%…) Lim said, “Rehda said they are going to start the campaign by March 1, while developers are expected to advertise their old selling price compared to the discounted one. I hope they would not only offer a 10% discount (the floor percentage that was set in the initial stage), but increase the discount to about 15% or 20%. That would make it.”

Rehda president Datuk Soam Heng Choon, in response to Lim’s request said, that REHDAm embers are ready to commit on the 10% price cut. He added, “I cannot speak on behalf of the developers of how much higher they could offer but 10% is the minimum discount requested (earlier). The maximum is up to the developers.” He shared that REHDA will encourage its members to offer higher discounts. He said the campaign would see the sales of RM3 billion worth of housing properties under construction. The three-day HOC Mapex in Kuala Lumpur would also be joined by government developers like UDA Holdings Bhd and Permodalan Nasional Bhd. The HOC is also expected to offer 3,384 affordable houses priced below the RM150,000 price range targeted at the B40 group who qualifies for financing under the new Bank Negara Malaysia’s sponsored RM1 billion fund. Article in TheMalaysianReserve.com

Ladies and gentlemen, please remember it’s not the wisest to just walk around the showcase and buy that property offering the highest discount, whatever that % may be yeah. 😛 A very good example is an empty unit with 20% discount and a furnished unit with a 10% discount and both are in areas we like. Which one we choose depends on the actual furnishings / renovations which we could then do a rough calculation with. Perhaps the 10% discount may be more value for money if the free renovation is an extensive one. Happy understanding and buying yeah.

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written on 7 Feb 2019

Next suggested article: Knight Frank: Improving sentiment due to stamp duty waiver

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