More homes expected to be sold in Penang during HOC – Mapex, says REHDA Penang.

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If we bought a RM500,000 home today, how much could we save just from the stamp duty exemption? Please o refer to the image. The total savings we could get if we bought a RM500,000 property just from stamp duty exemptions alone would be RM9,000. Assuming we want to have RM9,000 in interest after saving our money into the Fixed Deposit for 12 months, we need RM225,000 in the first place. I guess the question is how many of us have RM225,000 waiting for us in a Fixed Deposit account. This is why if we need a home and could qualify for a home loan, this is a good time to buy a property. The stamp duty exemption is on top of other incentives offered by developers today. Please do not simply buy the wrong one or think that property prices will suddenly rise next year okay. Buy, stay and enjoy. The rest will come slowly as long as the country’s economy continues to grow.

Article in According to the Real Estate and Housing Developers Association (Penang) chairman, Datuk Toh Ching Leong, the upcoming Home Ownership Campaign – Malaysia Property Expo (HOC-Mapex) in Penang will be more successful than the previous edition. He was comparing it to the Mapex Penang which happened from Feb 7-10 this year. One reason it was not that successful then was because many were still unclear about the stamp duty exemption for residential properties sold between Jan 1 and June 30, 2019. he further shared that residential properties priced between RM300,001 and RM1 million (before discount) were eligible for stamp duty exemption, while those priced above RM1 million would be charged a stamp duty of 3%.

There are now more incentives. Toh said, “However, with the stamp duty exemptions being clearly announced, we now have more developers coming in to take part in the upcoming HOC-Mapex Penang to showcase their properties and offer attractive incentives.” For example, besides the stamp duty exemption for residential units, Toh said the incentives include a minimum of 10% discounts for all properties, extra rebates, renovation packages and special packages by individual property developers.

There are a total of 20 developers participating in the upcoming event, showcasing more than 3,000 units of properties worth over RM3 billion in total. Within the island, the properties to be showcased are located in Balik Pulau, Teluk Kumbar, Georgetown and Jelutong. As for the mainland, there are interesting projects such as the SP Setia’s integrated township in Seberang Perai, and some projects in Bukit Tambun, Batu Kawan, Sungai Bakap and Nibong Tebal. Please refer here for the full Article in Happy visiting and buying something you like.

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<Featured Image is courtesy of Stock Photos from New Good Ideas>

written on 7 April 2019

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