The Real Estate and Housing Developers’ Association Malaysia (REHDA) lauded the government’s extension of the Home Ownership Campaign (HOC) 2020-2021.

The Ministry of Finance announced that HOC, which ended on 31 May 2021, has been extended to 31 December 2021 for all residential properties registered under the campaign.

REHDA noted that HOC has been sought after by buyers due to the incentives offered such as the minimum 10% discount on property prices as well as the waivers on Memorandum of Transfers and Loan Agreement stamp duties, reported EdgeProp.

The HOC saw nearly 50,000 units sold within Peninsular Malaysia since it started on 1 June 2020, with the discounted value given by developers amounting to around RM6.3 billion, according to REHDA.

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,” said REHDA.

“It also speaks volumes of REHDA and the developers’ efforts to support the government in its homeownership agenda.”

With the extension of the campaign, the association urged the rakyat to “take this opportunity to search for their dream homes”.

“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,” added REHDA.