I was disappointed that the budget 2021 allocation for stamp duty waiver will not be of any help with me, and in the past I also didn’t qualify for the HOC stuff because my income is higher than the max.

Are there any incentives out there for me to consider? I’m currently looking at a 800k+ property, this will be my first purchase.

I didnt read the finer details yet but base on your case, I believe there must be a cut-off, otherwise there will be no end to the request.

Is so happen you preferred property is above, the govt deemed buyer is financially capable of paying cost of purchase.

Be glad that you have a high pay than most others. For real estate industry, the recent and probably future trend is on affordable housing. Helping the M40 and B40 to own a property through various campaign and incentives.

Budget 2021. Then you should be looking at the HOC 2020 instead of the budget 2021 HOC since its mostly targeted for the lower incomes no?

Also, correct me if I am wrong but first time house buyers especially on projects with HOC should be entitled to HOC exemptions right? With 800k+ there are a lot of good choices out there.

For HOC, as long as it fulfill the criteria below then yes.

1. Direct purchase from developer only. Developer must be a member registered under REDHA (West Malaysia) SHEDA (Sarawak) or SHAREDA (Sabah)
2. Only Residential titled projects (price between RM300,001 to RM2.500,000)
3. Malaysian Citizenship
4. Purchase under individual or individuals name only

Then will be entitled for HOC package
1. Min 10% discounts
2. Stamp duty exemptions for MOT and loan (MOT up to RM1,000,000 property only. If RM1,000,001 to RM2,500,000 will subject to 3% stamp duty). Loan can get up to RM2,500,000 exemptions)

Hope this help.

Thanks both of you. I looked into it and the incentives are indeed attractive. Too bad the current two properties I’m looking at don’t qualify for HOC, maybe the developers didn’t sign up. I’ll switch focus and look around a bit to see if there are properties that do qualify.

Thanks!

Have you check with the developer on the package? In KK, some developers didn’t participate in HOC but still offer similar packages ...

Yeah I checked, but the properties are by BSG and they don't really do HOC in Penang, according to the staff I talked to