fbpx

Penang to extend House Ownership Campaign to end of 2021

January 15th, 2021 Leave a comment

penang-condo-jagdeep

The Penang government plans to extend the House Ownership Campaign (HOC) to the year-end following implementation of the movement control order (MCO) and imposition of Emergency which is expected to continue until August.

State Housing, Local Government and Town and Country Planning Committee chairman, Jagdeep Singh Deo said this measure was aimed at reducing the burden of new house buyers during this difficult time and for economic generation in the real estate sector.

“In Penang, we have almost 3,000 unsold houses worth RM 2.9 billion but out of this number, only 0.8 per cent of affordable homes priced under RM300,000 are still unsold. We will try to assist this sector as it is important in ensuring cash flow in the market,” he said at a news conference, here, today.

The HOC was introduced as an incentive to new house buyers, namely, stamp duty exemption and a discount of at least 10 per cent of the sales price from housing developers in encouraging house ownership among the locals.

Jagdeep said the state government had approved almost 4,000 applications for low-cost, low medium-cost and affordable homes.

He said it was committed to having a supply of affordable homes with prices ranging from RM42,000 for low-cost units, RM72,500 for low medium and up to RM300,000 for various affordable units.

Source: Bernama

 

Categories: Property News Tags:
RELATED PROPERTIES FOR SALE/RENT AT
  1. vc
    January 17th, 2021 at 04:45 | #1

    ” only 0.8 per cent of affordable homes priced under RM300,000 are still unsold. ”
    WHERE ? IN MY DREAM???

  2. tuakong
    January 17th, 2021 at 10:55 | #2

    @vc
    You dont think so?? I think it is highly possible.

(You can also Login/Register to submit your comment using unique ID)


Comment Guidelines
  • Avoid political discussion.
  • Comments with inappropriate wordings or personal attack may be moderated or deleted.
  • Developer must register before comment. All anonymous comments claimed to be from developer without registration will be deleted.
  • All advertisement in the comment will be deleted. Please contact us for advertising details.



To advertise your property in this page under "Related Properties for Sale/Rent":
 1. Submit your property at PenangPropertySale.com, it's FREE!
 (Please do not advertise your property in the comment)