PETALING JAYA: A total of 3,384 houses will be offered at discounted prices below RM150,000 to the public during the six-month Home Ownership Campaign (HOC) 2019, which runs from January to June.
Finance Minister Lim Guan Eng said this is to help provide affordable housing to the low-income group, as well as reduce the current level of overhang in the country which stands at RM19.5bil. The number of unsold units nationwide below RM150,000 currently stands at 16,528.
He was speaking at a press conference here today on the Malaysian Property Expo (Mapex), which will take place nationwide from March to June.
The HOC will see a number of initiatives being offered by developers, such as residential units priced between RM300,000 and RM1 million being exempted from any stamp duties.
Developers have also agreed to offer a 10% discount for all upcoming and unsold properties. The discount comes on top of the government’s move to waive the stamp duty for homes priced up to RM1 million.
“The discount and stamp duty waiver are some of the solutions to solve the overhang and mismatch in supplies,” Lim said.
Mapex 2019 will be held in conjunction with the HOC 2019, a federal initiative to make home purchases more accessible to lower and middle-income earners.
Housing was a key election pledge by Pakatan Harapan before it took power in the May 9 general election.
Government bodies will also take part in the HOC expo, meaning aspiring homeowners can expect to see homes in the “affordable” segment on offer.
Those joining include the Housing and Local Government Ministry, developers UDA Holdings Berhad, Perbadanan PR1MA, the National Housing Company (SPNB) and equity fund Permodalan Nasional Berhad.
