WHAT IS HOC

The HOC was Malaysia’s brainchild to address the dwindling number of locals capable of purchasing their own homes. This program ran the whole of 2019 and managed to increase the sales for residential houses in the country to more than RM 14.65bil way beyond the government’s RM3bil target.

Malaysia reintroduced HOC mainly to jumpstart the economy and to provide locals with the opportunity to acquire high-quality residential homes for a lower price.

As of the third week of June, Malaysia recorded around 8,500 people tested positive of the COVID-19 infection. This number remains conservative compared to the number of cases reported in the other countries in Southeast Asia. In fact, Malaysia was able to flatten the curve of the infection and managed to cut the number of people tested positive each day to two digits only.

With this development, the country’s movement control order (MCO) was recalibrated, and the more relaxed conditional MCO was implemented starting May 4- June 09, 2020.

Under the conditional MCO, identified business sectors are allowed to resume operations in the hope of reviving the crippled economy the soonest possible time.

The reintroduction of HOC was actually part of the government’s PENJANA (Pelan Jana Semula Ekonomi Negara) or the National Economic Recovery Plan. This recovery program revolves in three thrusts: Empower People, Propel Businesses and Stimulate the Economy. The PENJANA was also crafted using the government’s 6R key approaches, which stand for Resolve, Resilience, Restart, Recovery, Revitalize, and Reform.

Learn more Reintroduced HOC provide more opportunities for locals by visit https://www.letsbuypropertymalaysia.com/hoc-provides-more-opportunities-for-the-locals/