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Home Ownership Campaign (HOC) SHOULD be OTW back…

It’s been reported in the major medias. I have received a few same messages of the news. Well, just need to wait till next week to know for sure. What can Home Ownership Campaign (HOC) do IF I have no money to buy a property. Actually, we are not in a financial crisis. Many kept harping on unemployment numbers but I repeat, we are NOT in any financial crisis like 1997/98. However, we may be going into one if the economy is still switched off for a longer period of time due to COVID-19.

To restart, we need to do something about it. So, yes, the HOC 2020 may just restart the “ON” button. Will this then cause property prices to go up too fast? I think this is something which our Bank Negara Malaysia (BNM) or the Finance Ministry will be watching and take appropriate actions when they happen. Based on what they have done thus far (even when compared to many advanced nations), we are doing pretty okay.

Article in One source said this, “The government seems interested in reintroducing the HOC as the campaign had achieved good results last year. The government is expected to make an announcement in June or July.” This proposal to reintroduce the HOC was made following meetings involving the Ministry of Housing and Local Government (KPKT), the Ministry of Finance (MOF), the Real Estate and Housing Developers’ Association (Rehda) Malaysia and the Malaysian Institute of Estate Agents (MIEA), according to a property industry source.

The length of this new HOC may be until end of 2020. Real Estate and Housing Developers’ Association (Rehda) Malaysia president Datuk Soam Heng Choon said, “The announcement will most probably be made by the Prime Minister on June 5. In the meantime, we are continuing with our discussions with the government to fine-tune [the details].” Do refer to the full article in yeah.

In other words, a 6-month window for the stamp duty exemptions from HOC may become a reality next week. Please wait until formally announced and well, gazetted as well. I think many would still feel uncertain but this HOC will definitely be that catalyst for many who have ready funds to grab the opportunity and spur the property market. Once the numbers start to show, then the first-timers will be confident enough to enter the market actively again.

If the question is will I be buying, my answer remains the same. I have never stopped searching for good property opportunities. However, I do not have unlimited funds, so it will have to be really compelling before I can make any decision. By the way, buying a property to start ‘forced savings’ versus buying a property for investment so that one could rent it out are two very different decisions. Make them wisely and not just because of the potential HOC okay. Happy evaluating.

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Next suggested article: RPGT and the potential to push the market

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Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.


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