Managing Director at PropertyGuru DataSense Joe Hock Thor told Business Today, that they support the expansion of the Home Ownership Campaign (HOC) as a major booster of sales recorded throughout the pandemic.
“We believe that the Government should extend and expand the HOC to the secondary market as this was where the majority of transactions occurred throughout the pandemic.
“Such a move will hopefully spur the market which will then translate into a multiplier effect onto other sectors of the economy,” he said.
“Since the implementation of HOC, it has provided a big boost to the housing market and encourage more first-time homebuyers to consider sub-sale properties, especially as the stamp duty exemption can help reduce the upfront cost related to a home purchase,” says the Country Manager of PropertyGuru Malaysia Sheldon Fernandez on the HOC.
Despite the government’s efforts to provide relief to Malaysian property owners and support for the property sector, a study found that 84 percent of Malaysians believe the government could do more to make housing more affordable.
58 percent want the HOC to be extended to sub-sale properties.
HOC will come to an end at the end of this year, ahead of budget 2022 which will be tabled on 29 October 2021.
Iffah Salleh contributed to the article
