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HOC 2019 target is RM3 billion. Optimism For H2 2019

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Let’s look at some numbers for the Home Ownership Campaign (HOC) 2019 yeah. It’s very important to know whether people are actually buying properties with the HOC or it’s just hype. During the MAPEX 2019 in Kuala Lumpur which is part of the HOC 2019, I was in Kota Kinabalu for Sabah Housing and Real Estate Developers’ Association (SHAREDA) and I can safely tell you that the situation in Kota Kinabalu was positive. One developer I had lunch with said he had sold over 20 units and he pointed to a lady in red and said, “That lady bought 4 units at one go. Paid deposit by using her credit card. My deposit is RM10,000 per unit. I do not do the RM500 or RM1,000 deposit. I prefer serious buyers.” Overall, the HOC 2019 in KK was considered a success. Image showing the crowd there. Coming back to HOC 2019 in KL. It seems that it’s a positive one too.

Article in TheMalaysianReserve.com here. Mapex 2019 (HOC 2019) in Kuala Lumpur recorded RM285mil worth of sales which included 496 of various units. According to Datuk Ir Soam Heng Choon, president of REHDA, their target is for developers to achieve RM3bil sales throughout the HOC period. A REHDA survey showed that 77% of participants said they would buy a home within the HOC period. Property developers are also more confident on the sector’s outlook for 1H19 and the optimism is expected to increase in 2H19. Based on a survey of 121 REHDA members in Peninsular Malaysia, 41% are planning to launch 8,991 units in 1H19. On the other hand, 78% expected their sales to be below 50% in that period. Unsold stock decreased in 2H18 where 62% reported unsold units versus the previous 75% in 1H18. Article in TheMalaysianReserve.com here.

There are many more MAPEX expos on the way and HOC is running until 30th June 2019. (If there are no further extensions) If the target is to buy a home and save on the stamp duty exemptions, I think this is a good time. During good times, there’s no need for any campaign(s). In fact, during good times, the developers themselves would not want to support events which force them to give double digit discounts. As for the government, they are giving ‘away’ taxes which they should have collected. This is already a sacrifice. I end with this quote from Warren Buffet, “Be fearful when others are greedyand greedy when others are fearful.” Happy following.

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Article written and edited by Charles. News article summarised by Dina Batrisyia.

written on 19 MArch 2019

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