The Malaysian government has teamed up with property developers and lender to market about 30,115 completed houses at a lower price during the National Homeownership Campaign, reported The Edge.
To be rolled out on the first day of March, the three-day event will be held at the Kuala Lumpur Convention, according to Housing and Local Government Minister Zuraida Kamaruddin, who added that the campaign will see the participation of around 180 home builders and banks, which will help home buyers secure financing.
“We are bringing back the homeownership campaign that was held in 1998. It is good to take all overhang units to be exhibited (during the campaign) and offer them to buyers at a discount.”
She said home buyers will get a minimum discount of 10 percent. Of the 30,115 houses to be showcased at the event, 10,410 units will cost under RM300,00, 7,561 units will be priced from RM300,000 to RM500,000, while the remaining 12,144 units will come with a higher price tag of RM501,000 and above.
For those who can’t attend the event in March, the remaining unsold houses will still be sold at a discount for a tentative period of 12 months following the launch of the campaign.
As such, those who want to purchase homes at a lower price should save enough money for their down payment. For those who have already saved ample downpayment, they may opt to purchase not only residential properties in the primary market, but resale units as well.
Furthermore, experts advised the authorities and developers to create a master list of the available residential properties, so people can look them up in advance and finalise which they want to buy.
Image source: The Malaysian Pulse