Property developers are seeing strong bookings, particularly in June, since the reintroduction of the Home Ownership Campaign (HOC).
However, UOB Kay Hian said the conversion from bookings into sales remains a concern, as evidenced by the lower mortgage loan approval rate by the central bank.
“Mah Sing Group Bhd is the biggest beneficiary of the reintroduction of the HOC as most of its projects are eligible and are in strategic locations. In 2019,60% its assets were sold under the HOC.”
