Home ownership campaign offers numerous incentives

PROPERTY hunters, especially first-time buyers, have been urged to take advantage of the Government’s Home Ownership Campaign (HOC).

Real Estate and Housing Developers’ Association (Rehda) Perak chapter chairman Tony Khoo said under the campaign, there were various incentives buyers could enjoy, including discounts and stamp duty waivers.

Khoo said the HOC which started early this year would end on June 30. “Those wanting to buy their first home should do so as soon as possible.

“Homebuyers will get to enjoy more than 10% discount from the listed price,” he said in a press conference on the Malaysia Property Exhibition (Mapex) 2019 in Ipoh.

The HOC was announced during the tabling of Budget 2019 in November last year.

It was reported that under the campaign, residential units priced between RM300,000 and RM1mil would be exempted from stamp duties on the instruments of transfer and loan agreement.

It was aimed at helping individuals, especially the low- and middle-income groups to own a home while easing the country’s property overhang predicament.

On Mapex 2019, Khoo said it would be held at Ipoh Parade from April 19 to 21 between 10am and 10pm.

It will showcase properties in Perak, Penang, Johor, Selangor and Cameron Highlands (Pahang).

“There will also be property-related talks, music performances and baking activities,” he said.

Organising chairman May Ang said there would be 53 booths at the exhibition.

“We are expecting to draw in at least 30,000 visitors.

“We expect Perak Mentri Besar Datuk Seri Ahmad Faizal Azumu to launch the event on the first day,” she said, adding that state Housing Committee chairman Paul Yong Choo Kiong was expected to be present.