THE EDGE MARKETS. 28TH JULY: Total sales of RM92.5 billion has been registered under the Home Ownership Campaign (HOC) since its launch in 2019, the Dewan Rakyat was told on Thursday (July 28).
This involves 117,538 housing units with a total discount sum of RM15.8 billion, said Deputy Housing and Local Government Minister Datuk Seri Dr Ismail Abd Muttalib.
Ismail was responding to a question from DAP veteran Lim Kit Siang (PH-Iskandar Puteri) as to whether the HOC had been successfully implemented towards reducing the number of unsold houses in the country.
Citing data from the National Property Information Centre (NAPIC), Ismail said preliminary statistics for the first quarter of 2022 showed that there are 35,592 unsold completed units worth RM22.45 billion.
This is a decrease of more than 3% compared with the 36,863 unsold completed units worth RM22.79 billion in the fourth quarter of last year.
“The government has agreed to continue the HOC by introducing the Home Ownership Programme (HOPE) which was launched by the prime minister on July 15 this year. This is a more comprehensive approach to look at the entire housing ecosystem through four main components which are providing housing, financing, programmes and policies.
“Therefore, it is the government’s hope that through the efforts that have been implemented such as the HOC and HOPE campaigns, most unsold units can be matched with suitable buyers who wish to own a home.
“It is [also] hoped that this will stimulate the buying and selling of residential properties to increase the country’s economic growth,” added Ismail.