Due to the COVID-19 pandemic and the subsequent Movement Control Order (MCO),, the Prime Minister introduced the Short-Term Economic Recovery Plan (PENJANA) during his speech on 5th June 2020, reintroduce HOC 2020 scheme meant to advantage home buyers everywhere.
The HOC 2020 this time around carries the same set of benefits as previously, notably:
- Stamp duty exemption on the instruments of transfer and loan agreement for the purchase of residential homes priced between RM300,000 to RM2.5 million (subject to at least 10% discount provided by the developer).
- The exemption on the instrument of transfer is limited to the first RM1 million of the property price, while full stamp duty exemption is given on loan agreement effective for Sales and Purchase Agreements (SPA) signed between 1st June 2020 to 31st May 2021.
- 10% house discount