Sabah housing developers upbeat about recovery with govt initiatives

KOTA KINABALU: Housing developers in Sabah have been urged to advertise more on virtual platforms to capitalise on the government’s incentives to stimulate the economy following the fallout from the Covid-10 pandemic.

Sabah Housing and Real Estate Developers Association (Shareda) president Datuk Chew Sang Hai said members should come up with discounts and innovative promotional marketing strategies to boost sales.

“In line with the government’s direction, and adapting to the new normal, Sahreda will organise an E-expo for a home ownership campaign at a much bigger budget for publicity and promotional purposes, ” he said on Saturday (June 8).

He said should the Covid-19 situation stabilise and become safe, they would organise larger gatherings and hold the annual Shareda Propex expo in 2021.

According to Chew, Prime Minister Tan Sri Muhyiddin Yassin’s initiatives under the national economic recovery plan (Penjana) clearly addressed the need to overcome the challenges faced in the housing industry.

He said the reintroduction of home ownership, the exemption of Real Property Gains Tax (RPGT) for disposal of residential homes from June 1 to Dec 31,2021, and an increase in margin of financing from the current 70% for a third housing loan on property valued at RM600,000 was a good incentive for the recovery of the housing sector.

He said the home ownership campaign had in the past been very successful in creating an upward trend in sales of homes in Sabah.

“Undoubtedly, the reintroduction of a home ownership campaign will help in the recovery and subsequently revitalize the home property market, ” he said, adding that Shareda was confident of surpassing the nearly RM1bil sales figures achieved in 2019.

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