Mother, Baby & Kids

Is it a Good Time to Buy Property? Check Out the HOC (Home Ownership Campaign) 2020

Helena Hon

Mums and Dads, if you’re looking to own your dream home, there’s good news for you.  In an effort to “support businesses and strengthen the nation’s economy”, as well as to stimulate the housing market, Prime Minister Tan Sri Muhyiddin Yassin announced a Short-Term Economic Recovery Plan (PENJANA) on June 5, 2020. One of the initiatives he presented was the reintroduction of the HOC to offer Malaysians another cost-saving opportunity to own their own home.

Be in the Know about HOC 2020

Before you rush out to buy, here are a few things you should know about the HOC 2020 first.

The HOC is a joint effort between the Housing and local government ministry (KPKT) and the Real Estate and Housing Developers’ Association (REHDA) Malaysia.

What and Who are Eligible?

  • The HOC 2020 only applies to properties sold between June 1, 2020 and May 31, 2021.
  • It is open to all Malaysian purchasers, with no limit to the number of purchases.
  • In terms of getting your loan, the 70% financing limit applicable to the third housing loan for properties will be lifted during the HOC 2020 period.
  • Applicable to only residential properties in the primary market (newly completed or launched homes bought direct from developer with APDL (Advertising Permit and Developer License).
  • Not applicable to homes in the secondary market (subsale).
  • Homes purchased in Peninsular Malaysia must be registered with REHDA. In Sabah ─ must be registered with Sabah Housing and Real Estate Developers Association (SHAREDA) and Sarawak ─ must be registered with Sarawak Housing and Real Estate Developers (SHEDA).
  • Service apartments must be for residential use only and cannot be converted for commercial activities.
Highlighted

Picture of a happy family with their new home.

How do Home Buyers Benefit through the HOC 2020

  • Full Stamp Duty Exemption (on the Memorandum of Transfer & SPA) for homes priced between RM300,001 and RM1 million. Homes valued at less than RM300,000 do not qualify for the exemption.
  • Properties priced between RM1 million to RM2.5million will enjoy a reduced Stamp Duty of 3% where the 3% stamp duty will be imposed on the amount after RM1 million. (Eg. If a property is priced at RM1.5 million, the 3% will only be imposed on RM500,000).
  • Loan Agreement Stamp Duty charge of 0.5% is also exempted. This applies to properties priced between RM300,000 to RM2.5 million.
  • Under the HOC 2020, property developers are required to offer an additional (minimum) 10% discount on the purchase price of the home and this must be reflected in the Sale & Purchase Agreement (SPA).

For more information on HOC 2020, go to the official HOC website for the latest updates.

Check out these 8 amazing deals from Malaysia’s top developers

1. Always With You 2.0 by Sunway Property

[dropcap letter=”I”]n line with the government’s announcement to re-introduce Home Ownership Campaign (HOC) and due to the good response of “Always With You” campaign, Sunway Property is extending their irresistible deals with “Always With You 2.0” from now until 31 August 2020, so that customers can enjoy both benefits when they book their dream home today.

The “Always With You 2.0” campaign was launched in response to feedback from customers who were still keen to own a home but were cautious of the economic conditions as a result of the pandemic. With the comeback of HOC, customers can now enjoy greater savings and own their dream home.

During the campaign, homeowners can enjoy:

  • Subsidy of up to RM 50,000
  • Interest-free instalment plan of up to 24 months
  • Guaranteed Rental Return of up to 6%
  • A flexi financing scheme to cater to different customer needs or opt for a guaranteed loan up to 95% by Sunway.

Under the HOC, customers are also able to enjoy free MOT and loan stamp duty waiver, savings of up to RM35,000 and a 3rd loan of up to 90%.

2. #Insta-Yours by EcoWorld

[dropcap letter=”T”]here’s a reason why EcoWorld is calling their home ownership programme #Insta-Yours. It’s Instantly Yours! That’s why.

First, they give you Easy Entry. You don’t need to cough up a hefty downpayment, you just pay a 3-month security deposit which will amount to less than the usual 10% down payment.

And then ─ 100% Financing! Isn’t that great? Now everybody can own a home!

And then ─ easy monthly payments as all monthly #InstaYours payments are LOW as you will be offered special rates. Furthermore, you don’t need to make any payments if the property is still under construction until Vacant Possession (when you are given the keys.

#Insta-Yours give homebuyers a 5-year stay at a special rate and they can subsequently opt to continue living in the same home under normal #InstaYours rates for an additional 30 years.

3. Spotlight 8 by Sime Darby Property

Spotlight 8 by Sime Darby

[dropcap letter=”N”]ew Launches & Weekend Superdeals are back and even better than ever with HOC 2020!

Sime Darby Property is shining the light on the best deal possible for you with Spotlight 8! Enjoy Weekend Superdeals or New Launches, happening every weekend throughout July, August & September 2020!

Here’s what you shouldn’t miss:

  • HOC 2020 – Buy now and enjoy stamp duty waiver and attractive benefits for selected properties.
  • Weekend Superdeals – Enjoy additional months instalments on us when you book the selected property on its Superdeal Weekend!
  • Superdeal Vouchers – Book the selected property on its Superdeal Weekend and you will receive an attractive Superdeal Voucher worth up to RM800!

4. Eazy to Own by Mah Sing

[dropcap letter=”M”]ah Sing’s Eazy to Own campaign combines Maybank’s HouzeKeys Rent-to-Own scheme with HOC 2020 to give home hunters more incentives with 90% financing with stamp duty waiver, discounts, savings and more.

This makes owning your dream home and lifestyle “Eazy” because all it takes is Zero!

  • ZERO Down Payment with 90% financing*
  • ZERO Doubts with attractive limited time savings & incentives*
  • ZERO Hassle with low booking fee of RM500 only*
  • ZERO Stamp Duty on MOT & loan agreements*

*Terms & conditions apply. Valid for selected units in participating projects, for a limited time only under the HOC 2020 campaign.

5. GL Wow #Rugi Tak Beli by Gamuda Land

[dropcap letter=”G”]amuda Land has launched its online GL WOW campaign as part of Gamuda Land’s online property deals which were introduced on March 23 when everyone was in lockdown.

The current GL WOW campaign includes a 5% return per annum for every payment made until vacant possession ─ which is double the current fixed deposit rate. Home buyers will get a new Gamuda Land home and enjoy returns on their investment at the same time.

Additional deals include:

  • “Star buy” units which enable buyers to save up to RM200,000 when purchasing selected properties
  • Free home furnishing packages
  • 100% cashback on down payment made with any Citibank card
  • Shopee vouchers of up to RM10,000
  • Booking fee of only RM1,000
  • Privileges as a member of GL Friends — a loyalty programme exclusively for Gamuda Land purchasers.

6. Move on Move in with Setia Now by SP Setia

[dropcap letter=”S”]P Setia’s latest campaign ‘Setia NOW’ is targeted to home buyers who want to upgrade or own their first home. With HOC 2020’s additional benefits of Real Property Gains Tax (RPGT) exemption (saving 5% tax when one sells off property) and the lifting of the 70% financing margin limit for the third housing loan onwards, owning a house from SP Setia has never been easier.

SP Setia themselves are offering zero booking fees, zero downpayment, zero legal fees, free MOT and a further rebate of 48% on over 1600 Setia homes. Of course, terms and conditions apply.

7. Tropicana 10-TEN

[dropcap letter=”T”]ropicana’s 10-TEN Campaign is about affordable home-ownership comprising 10 not-to-be-missed deals and 10 signature properties.

The 10 Signature Deals include:

  1. RM1,000 low booking fee
  2. Flexi Buy
  3. Zero Downpayment
  4. Cashback
  5. Mortgage Relief
  6. 10:90 Scheme (pay 10%, pay remainder 90% upon completion)
  7. EasyPayment Scheme
  8. Free MOT
  9. Moratorium
  10. Double Referral Awards

8. #Duduk Rumah Deals by LBS Bina

[dropcap letter=”L”]BS Bina started their #Duduk Rumah Campaign in April 2020 to allow the home buyer to book an LBS property with only RM200. By June 1, 2020, the campaign was so popular, LBS secured bookings of up to RM273.7 million mostly from their Cybersouth and Alam Perdana developments.  Due to this overwhelming response, the developer decided to extend the promotion until 31st December 2020.

Besides the RM200 booking fee, the #Duduk Rumah Deals include move-in cash incentives, free legal fees and disbursement fees, and Stamp Duty on Loan Agreements.

*Terms & conditions apply for all HOC 2020 participating developers. All promotions listed here are valid for selected participating projects/ units and for a limited time only under the HOC 2020 campaign. All information stated here are correct at time of publication and subject to change without notice.