The government is extending the Home Ownership Campaign 2.0 (HOC 2.0) from January 1, 2021, to December 31, 2025, providing stamp duty exemptions on the transfer and loan agreements for new or secondary market homes valued at RM500,000 and below, according to the Housing and Local Government Minister.
On Tuesday (Oct 22), Nga Kor Ming informed that the 2025 Budget includes additional incentives to boost first-time home ownership, including individual tax relief on housing loan interest payments.
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On Tuesday (Oct 22), Nga Kor Ming informed that the 2025 Budget includes additional incentives to boost first-time home ownership, including individual tax relief on housing loan interest payments.
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NewsTranscript
00:00In the recent budget, there was much focus on first-time housebuyers.
00:05Yes.
00:06Of course, a homeownership campaign is always a priority.
00:11We are pleased to share with our friends that
00:15Malaysian homeownership has achieved 76.9%,
00:20which is well above average.
00:23And compared to many countries, we are doing quite well.
00:27However, in order to make sure that every Malaysian,
00:31we believe that Malaysians deserve nothing less,
00:34every Malaysian will own a home,
00:36that's why the government has decided
00:38our homeownership campaign will extend
00:41to the end of 2025.
00:44Then, later on, we will review.
00:46So what is the homeownership campaign about?
00:48Number one, for the first-time homebuyers,
00:50whoever buys homes below $500,000
00:53will be given 100% stamp duty exemption.
00:56In terms of your sales and purchase agreement
01:00and the loan agreement.
01:01And for those who buy properties above $500,000
01:05but below $1 million,
01:06will be given 75% discount on stamp duty.
01:10The second incentive is,
01:12any first-homebuyer who buys
01:14will be given tax exemption for RM7,000.
01:18If you buy properties not more than RM500,000.
01:21So there will be RM7,000 tax rebate for you.
01:24Then, of course,
01:25in order to solve the bankability issues,
01:28this recent budget has also announced
01:31an increase of RM10 billion
01:33guarantee fund by SJKP,
01:36Scheme Jaminan Kredit Perumahan.
01:38So far, we have helped 54,000 buyers.
01:41So with this additional RM10 billion,
01:43easily we can help another 20,000 people
01:47who want to buy homes.
01:48The bank will lend them,
01:50but the guarantee will be given by the government.
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