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REHDA lauds the extension of HOC

PETALING JAYA (June 1): The Real Estate and Housing Developers’ Association Malaysia (REHDA) welcomes the government's decision on extending the Home Ownership Campaign (HOC) 2020-2021, as announced yesterday.

In the media statement, REHDA said that HOC has been well sought after by purchasers due to its attractive incentives such as waivers on the Memorandum of Transfers and Loan Agreement stamp duties as well as the minimum 10% discount on the property price.

As of early May 2021, close to 50,000 units have been sold in Peninsular Malaysia under the HOC since it started on June 1, 2020, with the discounted value of about RM6.3 billion given by developers.

“The extension of HOC is representative of the government’s commitment to alleviate the rakyat’s burden during this trying time, as potential purchasers may be hard-pressed to pay for the stamp duties and would benefit from the discounts offered on the house prices.

“It also speaks volumes of REHDA and the developers’ efforts to support the government in its homeownership agenda. While we await the new gazette before the extension can formally take effect, we hope that the rakyat will take advantage of the campaign and take this opportunity to search for their dream homes,” REHDA noted.

To recap, the Ministry of Finance has announced that HOC, which ended on May 31,2021, has been extended to Dec 31, 2021 for all residential properties registered under HOC 2020/2021.

“Once again, we would like to thank the Government for taking our views into consideration and for allowing the seven-month extension, which ultimately will benefit the property industry as a whole and contribute to the rebuilding of the nation’s economy,” REHDA shared.

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