Earlier this week developers sat down for a live session to discuss the real estate market after the “new norm”.
Among the speakers was Mr Benny Ng, developer of Lido Plaza and chairman of the Home Ownership Campaign (HOC) 2019.
As part of the plan to revive the economy in Malaysia, the government has announced a new HOC for 2020 after Sabah achieved a total of RM940,000,000 in sales last year. The campaign began in 1st June 2020 and will end in 30 May 2021 to promote a series of incentives to stimulate the economy.
These incentives include:
- 100% stamp duty exemption for the instrument of transfer
- 100% Loan agreement stamp duty exemption
- Minimum 10% discount from developers
- 25% discount on nett legal fees from Sabah Law Society
Benny furthermore shared some insight that many viewers were not aware of, “Only Malaysian individuals are applicable for HOC 2020. Companies are strictly prohibited.”