1 MIN READLim Guan Eng: Incentives for first-time home buyers extended to Dec 31st

National Home Ownership Campaign 2019 (HOC 2019) is extended for another 6 months (July 1st – 31st December 2019), the Finance Minister Lim Guan Eng announced today.

Lim said the extension was to encourage an increase of Malaysian home ownership and reduce unsold houses.

Stamp duty exemption for first-time home buyers has also been extended to the same period.

In Lim’s statement, the Finance Ministry has accepted the Ministry of Housing and Local Government request in support of REDHA (Real Estate and Housing Developers’s Association) appeal to the extension.

After its launch in March, HOC has received positive public reception when presented incentives and discounts up to 10%.

Where it targets housing properties priced between RM300,000 to RM2.5 million.

Citing a report from the National Property Information Centre (NAPIC), Lim said the number of unsold homes had 2,313 units valued at RM19.86 billion as at the fourth quarter or 2018.

NEWS SOURCE: EdgeProp / Malay Mail

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