Real Estate and Housing Developers Association Malaysia (Rehda) president Datuk Soam Heng Choon expects the Home Ownership Campaign (HOC) to play a key role in boosting property transactions this year.
“The market is still soft but based on a survey by Rehda, property developers are more optimistic with HOC. Developers are also optimistic because there is a sign of pick-up in the economy.
“The issue of access to financing must be addressed. If people don’t have right access to margin, that is when the problem will come. We hope banks will give the right margins for financing,” Soam told NST Property.
Strict conditions imposed by banks on home loan applicants remain the biggest hurdle in the property market, even as the government seeks to encourage home ownership by waiving stamp duty fees for buyers under the HOC, which ends on December 31 this year.
Media Title: New Straits Times
Date: 25 Jul, 2019