The Home Ownership Campaign (HOC) which runs until June 30 and which was officiated by Prime Minister Tun Dr Mahathir Mohamad last Friday has spurred developers to take their projects out of cold storage.
Some of them have not launched any projects after the developers interest scheme was banned since 2014. Instead, they focused on “relaunching” previous projects by tweaking incentives and payment terms while others folded their marketing departments to cut operating costs, preferring to outsource to real estate agencies.
The introduction of the interest bearing schemes between 2009 and end-2013 had enabled buyers to fork out a down payment of as low as RM5,000 for units priced at close to half a million ringgit, with rebates thrown in.A developer who declined to be named said: “It’s been really tough the last few years. We have not launched anything since 2014.
MediaTitle: The Star
Date: 04 Mar 2019