HOC’s Implementation May Be Prolonged

HOC's Implementation May Be Prolonged
HOC's Implementation May Be Prolonged

The Home Ownership Campaign (HOC) has a positive outlook on the secondary market, higher chances are the government will extend the program’s implementation beyond December 31, 2021.

Extending the HOC to the secondary market will create a level playing field in the residential segment, say analysts.

Its benefits will also include substantial savings in stamp duty and tax exemption in housing loans for buyers.

The extension of HOC came into effect on May 31, 2021 by the Ministry of Finance and has been extended for another six months in conjunction with the continued lockdown restrictions in Malaysia, where the  Full Movement Control Order (FMCO) is in force.

The HOC was kicked off in January 2019 to address the overhang problem in the country and it proved successful in generating sales totalling RM23.2 billion in 2019, surpassing the government’s initial target of RM17 billion.

The campaign was extended to the end of this year.

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