Search Articles

Find tips, tools and how-to guides on every aspect of property

HOC: Houses below RM300,000 for B40, M40 groups


23 September, KUALA LUMPURThe Housing and Local Government Ministry (HLGM) is offering those in the B40 and M40 groups who have yet to own a house to buy a home through the Home Ownership Campaign (HOC): Affordable Homes.

Its Minister Zuraida Kamaruddin said that representatives from the financial institutions would also be involved with the campaign to help handle loan applications, something which was often a problem to those who wanted to buy homes, prior to this.

‘’HLGM’s effort now is to find ways how to help the B40 and M40 groups to be considered for bank loans for their houses. We are still working on it,’’ she said.

‘’As all are aware that the issue is concerning obtaining bank loans. Whilst, they were not able to obtain approval of loans from the banks even with the price of a house at People’s Housing projects being at RM45,000 a unit.

She said this in her speech before opening the HOC Pre-Launching Ceremony; Affordable Homes at KL Sentral today.

HOC focused on the sales of houses under RM300,000 specifically for the B40 and M40 groups.

HOC would take place for three days, namely, on Oct 4-6, 2019 at the NU Sentral, Kuala Lumpur.

HOC is also a platform to strengthen, co-ordinate strategy implementation and action plan to tackle home ownerships issues.

Meanwhile, when queried on the target of HLGM in house sales in the three-day campaign, Zuraida expressed confidence that 80 per cent would be sold from the overall homes worth RM2 billion which would be offered at the campaign.

‘’We will exhibit 10,500 (units of houses) at the campaign. I feel we can achieve at least 80 per cent..RM1.6 billion (overall value of houses that will be sold),’’ she said.

She said that 42 booths would be set up in the campaign encompassing government agency pavilions, private housing developers, financial institutions and advisory services.


Disclaimer: The information is provided for general information only. Malaysia Sdn Bhd makes no representations or warranties in relation to the information, including but not limited to any representation or warranty as to the fitness for any particular purpose of the information to the fullest extent permitted by law. While every effort has been made to ensure that the information provided in this article is accurate, reliable, and complete as of the time of writing, the information provided in this article should not be relied upon to make any financial, investment, real estate or legal decisions. Additionally, the information should not substitute advice from a trained professional who can take into account your personal facts and circumstances, and we accept no liability if you use the information to form decisions.

More Articles