Home Ownership Campaign is a savings programme for home buyers across Malaysia. First time buyers may not be aware but on top of the price of the house and mortgage interest rates, there are other charges that you need to factor in the process of purchasing a home, such as stamp duty and legal fees. Our blog today will help you understand how the Home Ownership Campaign (HOC) will benefit you on your journey towards owning your own home. Home Ownership Campaign 2020 The HOC scheme was designed by the Real Estate and Housing Developers’ Association Malaysia (Rehda) and the government and has been re-introduced in 2020 to support businesses and strengthen the nation’s economy, as announced by the Prime Minister while introducing the Short-Term Economic Recovery Plan (PENJANA). What Are the Benefits of the Home Ownership Campaign 2020? Eligible homes benefit from:Price from RM405800 – 7% bumi discount (bumi lots) -10% rebates =RM339,654 With HOC, you’d only pay:
- At least 10% discount – Malaysians who are looking to buy a house (that’s priced above RM100,000 and not more than RM2.5 million) will enjoy a minimum discount of 10%from the property developer
- Stamp duty exemption – You’ll also get stamp duty exemption on the Instrument of Transfer and Loan Agreement for the purchase of residential homes priced between RM300,000 and RM1 million.