PUTRAJAYA: The increase in the Overnight Policy Rate (OPR) is unlikely to affect the public interest in buying affordable homes at the 2022 Jom Beli Rumah Carnival which will take place at the Mid-Valley Exhibition Centre in Kuala Lumpur starting this Friday.
Housing and Local Government Ministry (KPKT) secretary-general Datuk M. Noor Azman Taib said there are 10,000 affordable houses priced below RM300,000 on offer at the three-day carnival, which is the main incentive to buy houses ‘below market price’.
“For example, the price of a house in Kuala Lumpur according to the market may reach RM400,000, but you will be buying a house below market price, so that is the attraction to buy an affordable house,“ said Noor Azman.
“We expect 20,000 visitors to attend the carnival to seize the home ownership opportunities offered,“ he said when met at the KPKT korban programme with firefighters here today.
On July 6, Bank Negara Malaysia’s (BNM) Monetary Policy Committee decided to raise the OPR, which is the benchmark for loans and savings, by 25 basis points or 0.25 per cent to 2.25 per cent. It is the second consecutive increase this year after the OPR was raised 25 basis points to 2.00 per cent in May.
M. Noor Azman said the various incentives and rebates offered were also among the attractions of the carnival such as the stamp duty exemption for the period 2021 to 2025.
Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz in tabling the 2021 Budget announced the implementation of full stamp duty exemption given on transfer instruments and loan agreements for first-time homebuyers on residential properties priced RM500,000 and below.
He said youths who wanted to own a house, especially those working in the gig economy, are also encouraged to attend the carnival because there is an i-Biaya booth offering easy housing financing facilities.
i-Biaya, which is an initiative of KPKT and the Ministry of Finance, offers three financing schemes, namely the Housing Credit Guarantee scheme (SJKP); My First Home scheme (SRP); and the PR1MA Rent-to-Own scheme.-Bernama
