By Iffah Salleh
Regarding the Home Ownership Campaign (HOC), there is still no update on it from the government whether the implementation will be abolished or extended.
For Real Estate Developer PropertyGuru, they stay firm with their wishlist on hoping the government will extend it to 2022.
Citing the incentives under the campaign (stamp duty exemption), the groups say this can be extended to the secondary residential market to help spur the economy and encourage first-time homebuyers to consider buying sub-sale properties.
The HOC was also a measure that 58 percent of Malaysians wished for from the government, according to PropertyGuru’s Consumer Sentiment Study.
HOC was established in June 2020 to boost property activity during the pandemics.
The government announced the campaign as part of the National Economic Recovery Plan (Penjana), and it has since been extended until December of this year.
A minimum 10% discount on property prices by developers, stamp duty exemptions on instruments of transfer and loan agreements for the purchase of residential homes priced between RM300,000 and RM2.5 million, as well as an exemption on the instrument of transfer limited to the first RM1 million of the property price are among the benefits of the campaign.
The stamp duty exemption is only applicable to residential properties under the campaign.
