Weekly Industry News

HOC boon to first-time, bumiputra buyers

Weekly Industry News

New data from Juwai IQI reveals that Malaysia’s renewed Home Ownership Campaign (HOC) is successfully boosting firsttime and bumiputra buyers, with 91.4% of real estate agents surveyed in agreement.

Just 2% of agents surveyed believe the campaign is reducing first-time buyer activity. Only 6.5% of agents believe the homeownership campaign has no impact either way on first-time buyer activity.

Juwai IQI group co-founder and CEO Kashif Ansari said because of the Covid-19 pandemic and the related economic slump, the government has reactivated HOC. It exempts buyers from stamp duty on the instruments of transfer and loan agreement when they buy a home worth from RM300,000 to RM2.5 million.

Media Title: The Sun

Date: 18 Dec 2020

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