Weekly Industry News

Lower sales expected for Home Ownership Campaign 2020/2021 — REHDA

Weekly Industry News

The Real Estate and Housing Developers’ Association Malaysia (REHDA) expects the total sales number under the Home Ownership Campaign (HOC) for this year to be lower than 2019’s figure of RM37 billion in sales value achieved from 57,000 units of house transactions. This is due to the high base and timing of the introduction of the campaign this year.

REHDA Malaysia vice-president Datuk NK Tong said the RM37 billion sales achieved in 2019 were “unusually high” as the sales figure was 10 times more than the initial sales target of about RM3 billion.

Tong noted that the timing of the reintroduction of the HOC “was a little bit unusual” as a lot of time was wasted due to the movement control order (MCO) and the recovery MCO (RMCO). The HOC this year started on June 1 and will end on May 31 next year.

Media Title: The Edge CEO Morning Brief

Date: 01 Oct 2020

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