This June, the Home Ownership Campaign (HOC) was re-introduced to help improve the suffering property market. Learn about the incentives provided for the property sector.
Prime Minister Tan Sri Muhyiddin Yassin announced this June that the Home Ownership Campaign (HOC) has been reintroduced in an effort to improve the country’s property market and provide financial relief for consumers. The campaign has been in effect from June 1, 2020 to May 31, 2021.
The incentives included in the HOC are RPGT exemption, stamp duty exemption, and removing the 70% margin of financing limit.
Additionally, the government also plans to introduce the Residential Tenancy Act (RTA) following concern raised by landlords and tenants.
Home Ownership Campaign (HOC) property incentives
1. Real Property Gains Tax (RPGT) exemption
One of the incentives announced is the Real Property Gains Tax (RPGT) exemption. This exemption, applicable between June 1, 2020, to May 31, 2021, is subject to properties that are priced at a 10% discount provided by developers.