Weekly Industry News

Ride on the home ownership incentives

Weekly Industry News

THE Home Ownership Campaign (HOC) aimed at encouraging Malaysians to own houses has been extended from June 2019 to Dec 31,2019.

I was told that the response to the campaign has been positive. Therefore, it is not surprising that the government has extended the HOC to enable more people to benefit from it financially.

This campaign allows purchasers of houses priced up to RM1mil to get a stamp duty waiver for the memorandum of transfer (MOT). Other benefits include full stamp duty waiver on loan documentation up to RM2.5mil and a minimum 10% discount to all properties registered for the scheme, except for those subject to government price controls.

For example, the total savings from stamp duty waivers and property discount for a RM500,000 valued property are about RM60,000.

To facilitate the campaign, the Real Estate & Housing Developers’ Association (Rehda) has planned to host MAPEX exhibitions in various states, including the national Home Ownership Campaign Expo at Mid Valley Convention Centre from Oct 18 to 20.

Media Title:  The Star

Date: 21 Sep, 2019

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