Need more time to reduce the overhang. Extension?

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When people ask me if Home Ownership Campaign HOC) may be extended, my answer is, “It depends on how successful is the campaign.” Actually, if its very successful, there is no need to extend it any further. However, if the unsold unit numbers are still pretty high, then of course an extension will help many developers and offer savings to the home buyers too. A minimum discount of 10 percent from the selling price is attractive and this is usually offered only during slower times yeah. Don’t wait for good times and ask for it. Wish will not be granted.

Article in themalaysianreserve.com CBRE-WTW (CBRE Group Inc and CH Williams Talhar & Wong Sdn Bhd) MD Foo Gee Jen said, “Yes, it is possible for the HOC to be extended as developers are already lobbying for this.” He added, “I believe the market has to find its own equilibrium and take the natural process and do its own correction. Let the market forces determine the price buyers wish to buy. Do not artificially mark up the price and then offer discounts, rebates or freebies.”

Asiacap Valuer & Property Consultants Sdn Bhd property valuer Kit Au Yong said, “The current campaign has gained good responses from the market. It may be a good opportunity to help homebuyers to own a home with such incentives.” Knight Frank Malaysia Sdn Bhd Sarkunan Subramaniam said, “Whether the HOC is extended or not, developers can individually carry on the discounts they want to offer to the buyers.” Please refer to more details on the HOC 2019 here: Article in themalaysianreserve.com

I will personally prefer if the HOC is extended only for first-time home buyers. Some groups of buyers do need extra assistance. At the same time however, it’s time that more engagement is done with these first-time home buyers. If they do not receive some answers to their worries, no matter how much the discount given, they will still prefer to wait by the side. No one knows how long they want to wait. Even they themselves do not know if you ask them.

The only issue is that while they were waiting, many used some of the savings which could have been used for downpayment for other stuffs. Haha. Now you know why some just could not get their loan applications approved yeah. Those who read kopiandproperty.com should focus on evaluating and buying instead yeah. Happy understanding and please do share more positive news to first-time home buyer friends please.

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<Featured Image is courtesy of Stock Photos from chris dorney>

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