The short-term Economic Recovery Plan (June – December 2020) – stage 4, also known as PENJANA, PELAN JANA EKONOMI NEGARA announced by our Prime Minister, Tan Sri Muhyiddin Yassin yesterday shows that the government recognizes the urgency and the importance of taking recovery measures to support and strengthen the businesses and the economy of the country.
Under the 3rd thrusts of the plan, i.e. Stimulate the Economy, SHAREDA feels confident and assured on the three (3) incentives introduced in the #penjana Plan by the Federal Government. The objective of the introduced measures clearly identifies the challenges face in the home property market and also the home buyers at this unprecedented times of the global pandemic outbreak COVID-19.
The 3 incentives consist of:
- Home Ownership Campaign (HOC) to be reintroduced
- RPGT exemption for disposal of residential homes from 1st June 2020 to 31st December 2021 (This exemption is limited to the disposal of three units of residential homes per individual)
- Uplifting the current 70% margin of financing limit applicable for the third housing loan onwards for property valued at RM600,000 and above during the period of the HOC
HOME OWNERSHIP CAMPAIGN (HOC)
During the first HOC in 2019, there were approximately RM950million of property sales in Sabah, while in Malaysia, the aggregate sales is RM24billion. Based on NAPIC report, it indicates that Malaysia managed to experience an upward trend of sales in value and volume in comparison with the previous year of 2018. This is mainly attributed by the launching of Home Ownership Campaign (HOC) in 2019. SHAREDA would also like to acknowledge the support and confidence of the Sabah State Government spearheaded by our Chief Minister, Datuk Seri Panglima Mohd Shafie bin Haji Apdal on the successful launching of the HOC 1 in Sabah last year.
Hence, it is undoubtedly that the reintroduction of HOC would definitely recover and subsequently revitalize the home property market. SHAREDA is confident that they are able to surpass the 2019 figures and set another record-breaking sales for this coming year.
For HOC 2020 to be successful, SHAREDA encourages its members to develop innovative discounts and promotional marketing strategies to capture more sales.
Furthermore, in-line with the government’s direction and adapting to the new normal, SHAREDA will organize an E-Expo (digitalized/virtual platform expo) for HOC at a much bigger budget for publicity and promotional purposes. Should the situation of the COVID-19 pandemic in Malaysia is stabilized and safe to organize large gatherings, then eventually the annual SHAREDA PROPEX will be held in year 2021.
SHAREDA look forward to a brighter and positive tomorrow.
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