What is Home ownership Campaign ?
The Home Ownership Campaign (HOC) is designed to encourage the increase in home ownership among Malaysians. This is an effort to stimulate the property market and provide financial relief to home buyers following the Covid-19 outbreak.
Initially the HOC was launched in January 2019 and ended on the 31st December 2019. However, now it is announced that the HOC is back, taking effect from June 2020 until 31 May 2021.
Benefits of the Home Ownership Campaign?
1. Full stamp duty exemption till RM1 million
Successful applicants under the scheme would enjoy 100% stamp duty exemption on Instrument of Transfer for any residential home purchase up to the value of RM1 million.
2. Partial stamp duty exemption till RM2.5 million
For properties worth more than RM1 million up to RM2.5 million, you would have to pay 3% stamp duty on the Instrument of Transfer for the amount that’s more than RM1 million instead of 4%
3. Further stamp duty exemption
All properties within the scheme enjoyed a further stamp duty exemption on the Instrument of Securing Loan.
4. 10% house discount
Purchaser enjoys a minimum 10% reduction on the purchasing price of properties listed under the scheme.
