Weekly Industry News

Developers to give discounts, maintain prices after HOC

Weekly Industry News

Property developers are expected to continue giving discounts and various offers to attract buyers for Malaysia’s RM18.77 billion worth of overhang residential properties still existing following the conclusion of the national Home Ownership Campaign (HOC) 2019 last month.

The Real Estate and Housing Developers’ Association Malaysia welcomes developers’ efforts to continue offering discounts to homebuyers even after the HOC ended, its president Datuk Soam Heng Choon said.

“In fact, most developers were giving rebates and offering special packages to buyers even before HOC 2019. Some may continue with the effort as part of developers’ initiatives to promote or market their projects.

“However, they are not obligated to this and the quantum of discounts to be given are at their discretions,”Soam told The Malaysian Reserve (TMR) in an email reply recently.

Media Title: The Malaysian Reserve

Date: 10 Jan 2020

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