The sales of the Home Ownership Campaign (HOC) 2020-2021 are expected to be lower than last year owing to the lacklustre performance in the first half of 2020, said Real Estate and Housing Developers’ Association (Rehda) Malaysia president Datuk Soam Heng Choon.

HOC 2019 recorded sterling sales of 57,000 units and property value of RM37 billion after discount, based on Rehda’s figures.

While the market will gradually pick up in tandem with economic recovery next year, Soam does not expect HOC 2020-2021, which started from June 1 this year and ends on May 31 next year, to achieve last year’s performance in the current challenging market conditions.

According to National Property Information Centre (NAPIC)’s data, property transaction volume for the first six months of 2020 fell by 27.9% year-on-year (yoy) to 115,476, while transaction value plunged 31.5% to RM46.94 billion.

Meanwhile, Rehda Malaysia vice-president Datuk Tong Nguen Khoong revealed that the sales certified under HOC 2020-2021 have surpassed RM800 million and expects more sales to come next year.

“The RM37 billion sales achieved by the HOC 2019 campaign was unusually high, as compared with historical property sales numbers,” he noted.

Currently, properties worth around RM55 billion have been registered for the HOC 2020-2021 campaign, since registration started in August 2020.

Commenting on the discounts given by developers, Tong added that participating developers would need to register the project details and declare the “before and after” selling price to Rehda.

“After sales are done, developers then need to send in certifications to be cross checked by Rehda to ensure that there is at least a 10% discount,” he explained.

Properties under the HOC 2020-2021 campaign are subject to at least a 10% discount given by developers. The campaign also offers stamp duty waivers on instruments of transfer and on loan agreements for Sale and Purchase Agreements signed from June 1, 2020 to May 31, 2021.

Source: EdgeProp.my

A proposed mixed development by Kobay Properties Sdn. Bhd. at Jelutong. Located on a 6-acre land along Jalan Ahmad Nor, adjacent to Urban Suites development by Cosmopolitan Homes. It is easily accessible from Penang Bridge and George Town via Tun Dr. Lim Chong Eu Expressway, surrounded by established communities and amenities.

This development will see the demolition of the existing squatter houses, for the development of several high-rise commercial buildings:

PHASE 1: 39-storey commercial building:

• 3 residential towers (Tower A – Serviced apartment (176 units)
• Tower B – Serviced apartment (253 units)
• Tower C – Serviced apartment (253 units)
• Shop offices (202 unit), Level 1 – 6
• Supermarket (1 unit), Level 4 & 5
• Cinema (1 unit), Level 6 – 8
• Multi-storey carpark, Level 1 – 4 & 6 – 11
• Garden and facilities, Level 12 & 20

PHASE 2: 38-storey commercial building:

• Retail lots (16 units), Level 1 – 3
• Hotel (228 rooms), Level 12 -31
• Hotel facilities, Level 4, 5 & 12
• Multi-storey carpark Level 6 – 11
• Business suites (49 units), Level 32 – 38

The project is still pending for approval. More details to be available upon official launch.

Property Project : (to be confirmed)
Location : Jelutong
Property Type : Mixed development
Land Area: 6 acres
Built-up Area: (to be confirmed)
Total Units : 682 (serviced apartment)
Indicative Price: (to be confirmed)
Developer : Kobay Properties Sdn. Bhd.

Location Map:

The Real Estate and Housing Developers’ Association Malaysia (Rehda), which is cautiously optimistic about the outlook of the property sector, hopes for better improvement in the first half of 2021 (1H2021), provided there is no new community transmissions of the COVID-19 pandemic in the country.

The expected sales will further improve in 1H21 in line with the economic recovery and the ongoing Home Ownership Campaign (HOC), as well as the low interest rate environment, its president, Datuk Soam Heng Choon said.

“With the ending of the moratorium, which falls today (Sept 30), I think financial institutions are giving targeted help both through extended moratoriums and also through restructuring and refinancing of loans for those buyers who still need assistance.

About Residensi Permatang Pauh

Affordable housing undertaken by Excel Focus Properties Sdn. Bhd. It is strategically located within the established township of Permatang Pauh, only about 500 meters away from Butterworth-Kulim Expressway. Neighboring communities include Taman Naluri, Taman Naluri Ria and Taman Janggus Jaya.

Find out more about Residensi Permatang Pauh

Penang State EXCO for Town & Country Planning and Housing, Jagdeep Singh Deo set a new target of 220,000 units of affordable housing (RMM) to be built by 2030, supporting the current economic environment and demand.

The targets include low-cost (Type A) and low-medium cost (Type B) and affordable housing which cover three categories of Type C1 (maximum price RM150,000), C2 (RM200,000) and C3 (RM300,000).

“This new target takes into account the impact of economic uncertainty, challenging living environment and current situation that is still worrying as a result of the outbreak of COVID-19 to affect our economic situation. This new target will be proposed at the upcoming Exco Meeting.

“With the current situation as a result of COVID-19, who can afford to buy expensive houses… while to continue their daily life.

“Indeed, it is still necessary to continue development in Penang as to increase the supply of affordable housing, as well as the welfare of the people is maintained.

“Therefore, by 2030 and there are still 10 years left, we (State Government) believe that the demand for affordable housing is always there and therefore I have set a new target to build 220,000 units of affordable housing in Penang by 2030,” he said at the Artis 3 low-medium cost handover ceremony near Jelutong here this morning.

The Artis 3 low-medium cost housing project, developed by Duta Mas (Airmas Group), comprises a total of 158 units and is also equipped with surau, multipurpose hall, three reading rooms and management office.

Source: Buletin Mutiara