KELANA JAYA: The Home Ownership Campaign (HOC) 2019 has generated RM14.65 billion in sales from 19,784 units of properties sold as at September 13, this year.
Real Estate And Housing Developers’ Association of Malaysia (REHDA) said about 95 per cent of the total properties sold represented by its members, while the remaining 5.0 per cent were from non-members or (1,002 units).
REHDA president Datuk Ir. Soam Heng Choon said the bulk of the properties sold were from Selangor, Kuala Lumpur, Johor, Penang and Melaka, each representing 8,259 units; 4,775 units; 2,026 units; 1,401 units and 1,394 units respectively.
“Majority of the properties sold under the HOC were priced between RM500,000 and RM750,000 with a total of 7,704 units, followed by a RM300,000 to RM500,000 range with 4,967 units and RM750,000 to RM1 million range with 3,968 units,” he said at a media briefing on REHDA Property Industry Survey for the first-half (1H) of 2019, here today.
Soam said high-rise properties including service apartment, condominium and apartment were the most in demand segment with a total of 11,144 units sold, followed by double storey terrace segment which sold 5,877 units for the period.
“Developers should focus on offering the right products (properties type) at strategic location with good pricing,” he added.
Soam said other factors influence property purchase include capital appreciation, good digital network coverage, availability of public transport and higher loan eligibility.
Initiated by Finance Minister Lim Guan Eng during the tabling of Budget 2019 last November, HOC 2019 allows local house-buyers to be exempted from stamp duties for purchase of residential units made between January to December 2019.
It was learnt that the HOC 2019 offers a minimum of 10 per cent discount on existing unsold properties, especially for first-time homebuyers.
The primary agenda of HOC 2019 was mainly to address the issue of property overhang throughout the country.
For the 1H of 2019, unsold properties rose 16.24 per cent to 5,875 units compared to 5,054 units recorded in the second-half of 2018, according to REHDA Property Industry Survey during the period.
The survey revealed that the semi-D bungalow, terrace house and high-rise buildings were affected by the property overhang.
Among the main factors contributing the unsold units include end-financing issues and unreleased Bumiputera units as well as low demand or interest.
The survey also shown a reduction in the number of property launches with a total of 10,574 units compared with 11,964 units in 2H of 2018.
With 144 respondents (property developers) all over the Peninsular Malaysia participated in the survey, it revealed that two-three storey terrace segment led the launches at 4,048 units, followed by serviced apartments (3,358 units), and apartment/condominium (989 units).
The average selling price of the property launches between RM250,001 and RM700,000.