PETALING JAYA: The House Ownership Campaign (HOC) 2.0 should be extended to properties priced at up to RM1.2mil, say younger workers who find that the dream of owning homes in their preferred locations challenging.
A prospective buyer who wanted to be known only as Charles, 35, said many of the properties he’s eyeing in Kuala Lumpur and Petaling Jaya range between RM750,000 and RM1.2mil.
“The hefty price tag for properties here, however, are a deterrent, with the stamp duty also incurring additional costs. Extending the HOC to properties priced up to RM1.2mil can lessen the overall financial burden,” he said.
He said the HOC expansion should also include the perks offered to properties currently covered.
“When included with other top perks and rebates offered by developers, it would make home ownership in the Klang Valley easier,” he added.
Writer J. Kumar, 36, who has been renting properties here over the past four years, said his dream of owning a house continues to fade as each year passes.
“Even for high rises, the cost can go beyond RM850,000 per unit whereas the same price can get you a bungalow in the outskirts.
“If the HOC benefits are applied to houses in this range, at least we don’t have to worry about the stamp duty fees as much,” he said.
For Ashleigh Koo, 39, the high prices of properties in the Klang Valley made her decide to buy a condominium in Selayang.
“I’ve always wanted to buy a place as renting can be quite stressful – we never know when the landlord would want the property back.
“I chose to buy my current condo in Selayang because the price went down once the HOC benefits were applied. I did consider properties nearer to the city centre, but the cost was out of my reach,” she said.
Under the HOC, which will continue until the end of 2025, buyers enjoy a full stamp-duty exemption for properties priced RM500,000 and below.
In addition, those who buy their first homes priced between RM500,000 and RM750,000 will get a 75% exemption from stamp duty.
Under Budget 2025, those who purchase residential properties priced below RM500,000 will get a tax relief of up to RM7,000.
As for properties priced between RM500,000 and RM750,000, purchasers will qualify for a tax relief of up to RM5,000.
New homeowner Terry Chong proposed the tax rebates be extended to properties ranging between RM750,000 and RM1.2mil.
“Landed properties in mature and quality neighbourhoods are mostly within this range. Many couples looking to start families prefer areas that have already been fully developed,” he said.
Chong also proposed that first-time home buyers receive the same HOC benefits when buying sub-sale properties.
