Even before Covid-19 struck, it is fairly difficult to own a property in Malaysia, particularly those located in prominent cities. And now, with the ongoing pandemic affecting most businesses and industries, the property sector continues its downward trend following poor consumer affordability and unfavourable property prices.
All hopes are not lost as the Home Ownership Campaign (HOC) is back in 2020 as part of the Short-Term Economic Recovery Plan initiated by the Malaysian government. The main objectives of HOC 2020 are to stimulate the overall property buying process and to invigorate the sale of unsold properties.
Under HOC 2020, homebuyers get to enjoy 100% stamp duty exemption on Instrument of Transfer for any residential home purchase up to the value of RM1 million. All purchases of properties under the scheme will also be entitled to a further stamp duty exemption on the Instrument of Securing Loan.
Apart from the stamp duty exemptions, the main attraction under HOC 2020 is the 10% reduction on property prices, making it what could be the best time to own a home. What’s more, numerous developers are now offering additional goodies to sweeten the deal and to further entice homebuyers.
Taking the government’s heed to promote home ownership in Malaysia, HCK Capital Group – a reputable creator of education cities, participates as one of the developers under HOC 2020. The Group rolls out two of its developments with residential components, namely edusentral @ Setia Alam and edusphere @ Cyberjaya with HOC 2020 incentives.
HOC 2020 will run until 31st May 2021, and a potential buyer should definitely consider to take advantage and secure a good, suitable home within this period. With so many irresistible incentives, now is perhaps the best time to make your dream home a reality.