82,201 Homes Worth RM38.29 Billion Sold Under HOC

November 11, 2021

82,201 Homes Worth RM38.29 Billion Sold Under HOC

The Home Ownership Campaign (HOC) saw 82,201 housing units worth over RM38.29 billion finding buyers since it started in 2019 until August this year, said Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz.

With this, RM274 million in stamp duty exemptions have been extended to first-time homebuyers under the campaign, shared the minister in a written reply to Parliament.

“This initiative has helped reduce the initial cost associated with buying a home, especially for youths who are just starting their careers,” he said as quoted by Free Malaysia Today (FMT).

“The government will next focus on homeownership for those who have no evidence of a fixed income or who are engaged in the gig economy.”

In fact, the government has allocated RM2 billion for the Skim Jaminan Kredit Perumahan (SJKP) for the matter, he added.

Tengku Zafrul made the statement in response to Ipoh Timur MP Wong Kah Woh’s question on the number of properties sold under HOC and the estimated stamp duty exemptions involved.

The HOC was introduced on 1 January 2019 and is set to end on 31 December 2021.

Separately, the government has allocated RM70 million to the Ministry of Tourism, Arts and Culture for the maintenance of tourism facilities in preparation for the opening of borders, said Tourism, Arts and Culture Minister Nancy Shukri.

In a written reply to Parliament, she shared that the allocation will be used for the preservation and conservation of heritage sites, projects and buildings.

Aside from 84 tourism facilities and infrastructure maintenance projects, the allocation will also be used on six cultural village projects and 75 tourism, culture and heritage empowerment projects.

 

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