Weekly Industry News

Why buy during the HOC?

Weekly Industry News

Homeownership is no doubt one of the hottest topics in Malaysia currently especially when the inventory of residential property in the country is rising and has accumulated to an all-time high in recent years.

According to NAPIC (National Property Information Centre), as at the third quarter of 2018, Malaysia has as many as 43,211 unsold residential units inclusive of serviced apartments and small office home offices (SoHo) worth a total of RM29.47 billion. On the other hand, consumers have been lamenting that property prices are too high and are no longer affordable.

Hence, last November, Finance Minister Lim Guan Eng announced during the tabling of Budget 2019 that a Home Ownership Campaign (HOC) 2019 will be initiated in collaboration with the Real Estate and Housing Developers’ Association Malaysia (Rehda) and will run from Jan 1, 2019 to June 30, 2019.

In conjunction with the HOC, Rehda in partnership with the Housing and Local Government Ministry (KPKT) is organising a national-level expo from March 1 to 3 at the Kuala Lumpur Convention Centre. The launch of the HOC 2019 Expo @ KLCC will be officiated by Prime Minister Tun Dr Mahathir Mohamad. More than 50 property developers will be showcasing their products at the expo which will be followed by other expos at state level and major cities.

MediaTitle: The Edge Financial Daily

Date: 01 Mar 2019

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