ACHIEVING the RM3 billion sales target from the Home Ownership Campaign (HOC) is not a tall order, said the Real Estate and Housing Developers’ Association (Rehda).

The campaign is an initiative introduced in Budget 2019 to address the issue of property overhang and stimulate uptake in the housing sector.

Rehda president Soam Heng Choon said he is confident that the target is achievable based on sales that the developers have been seeing.

Recently, Rehda collaborated with the Housing and Local Government Ministry to organise the Malaysia Property Expo (Mapex) 2019.

Based on feedback from 26 developers, some 496 units were taken up by buyers during the expo which was held between March 1 and 3.

The total sales value stood at RM285 million.

The expo featured 55 developers, including government-linked property agencies such as UDA Holdings, Syarikat Perumahan Negara Bhd (SPNB) and Perumahan Rakyat 1Malaysia (PR1MA) and 17,348 property units with a total value of RM11.8 billion.

The Housing and the Local Government Ministry told The Malaysian Insight on March 11 that government-linked property firms rang up RM70.8 million from the sale of 227 units under the HOC campaign during the expo.

Soam noted that developers have also been seeing more footfall and visits to their galleries following the launch of HOC campaign.

He said the state level Mapex expos are still ongoing.

On whether the HOC campaign should be extended, he said it will depend on whether there is a need for it.

“We appeal buyers to make the decision now. Don’t wait (till the end of the campaign).” – March 14, 2019.