Zuraida wants home ownership campaign extended to December

Zuraida wants home ownership campaign extended to December

However, the housing and local government minister says it is up to the finance ministry to approve the proposal.

Housing and local government minister Zuraida Kamaruddin says 34,354 units worth RM25.65 billion have been sold during the Home Ownership Campaign. (Bernama pic)
PETALING JAYA:
Housing and local government minister Zuraida Kamaruddin said she has met with the finance minister to extend the incentives offered during the Home Ownership Campaign (HOC) to first-time homebuyers until December.

“The finance ministry has to review and fine-tune the mechanism before agreeing to extend the campaign. The terms may differ slightly from the current HOC conditions,” she said at the Edgeprop Malaysia’s Best Managed and Sustainable Property Awards last night.

Zuraida said 34,354 units with a value of RM25.65 billion had been successfully sold during the campaign.

She also said the value of the discount given reached RM4.3 billion.

The HOC was announced by the government under the National Economic Recovery Plan (Penjana) last year to spur the property sector. The campaign is scheduled to end on May 31.

The incentives offered include 100% stamp duty exemption for any residential home purchase up to a value of RM1 million, and 3% stamp duty for properties worth between RM1 million and RM2.5 million.

Zuraida said the government also emphasised home repair and renovations in addition to encouraging home ownership.

“Under the Malaysian Housing Maintenance Fund (TPPM), a total of RM30 million has been spent to implement 173 repair and maintenance projects in 2020,” she said.

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