I think everyone knows the Home Ownership Campaign period has been extended till 31st December 2019. Earlier article here. HOC is extended, please share yeah. This meant that more people could take advantage of it, especially the first timers who are still deciding whether to buy or not to buy. By the way, developers love it too because this is a boost to the market. Many have also publicly stated that their many of their sales in 2019 were due to the HOC 2019.
Article in themalaysianreserve.com . Housing and Local Government Minister Zuraida Kamaruddin said, “I was informed that there were strong suggestions and requests among homebuyers and developers to extend the campaign until December 2019 from the original target of June 2019. Therefore, I would like to inform that the period of the HOC, which should end June this year, is extended until December 2019. Hopefully this extension will allow a lot more people in the country to own a home and help put the housing industry on the right track.”
The HOC 2019 was aimed at reducing the number of unsold property units as well as to help customers own homes. It was initiated after the total unsold units hit 43,211 units sold amounting to a value of RM29.47 billion as of the third quarter of 2018 (3Q18). During this campaign period, local homebuyers will enjoy stamp-duty waivers for the purchase of residential units registered under the HOC.
For properties registered under this campaign, the stamp duties on instruments of transfer for properties priced up to RM1 million and for loan agreements of up to RM2.5 million will be waived. Homebuyers will also get a minimum 10% price discount from developers. The campaign features properties of various price ranges, divided into three categories: Homes below RM300,000; homes priced between RM300,001 and RM500,000; and homes priced at RM500,001 and above. Do refer to the full article here in themalaysianreserve.com with more details too.
Courtesy reminder not to buy because of discounts. Buy because that particular home is really a suitable choice; near to office, something meeting your requirements or even a property which your future father-in-law could approve for example. When we look back at some of the units being auctioned off these days, one major reason was due to the pricing being way too high for comfort. Earlier article here: Greed is a very dangerous thing for property, really. If we are buying something within our means, everything will be just fine because we are going to hold it for many years. Happy understanding.
Next suggested article: If we don’t sell, we don’t lose money. better buy low yeah.