10% discount if you buy affordable housing during pandemic
Until 30 June 2022, those who are eligible to buy affordable housing (RMM) in Penang Island and Seberang Perai will enjoy a 10% reduction in selling price.
Elaborating further, state Housing, Town, Country Planning and Local Government Committee chairman Jagdeep Singh Deo said that State Government implemented the Home Ownership Campaign (HOC) with the aim of stimulating the Penang’s property sector affected by the COVID-19 pandemic thus providing opportunities to eligible Penangites. to have a more comfortable residence.
“RMM, for units with a built-up area of 850sq.ft to offer at the new price of a maximum of RM270,000.00 in Penang Island and RM225,000 per unit in Seberang Perai.
“If the developer wants to maintain the old price of RM300,000.00 in Penang Island and RM250,000 in Seberang Perai, the size must be increased to a minimum of 900 square feet,” he explained during a question and answer session at the Penang State Assembly here on 2 September 2021.
Apart from that, he also explained that housing developers are also required to provide various facilities for common use such as leisure areas, multi-purpose halls and reading rooms (if maintaining the old price).
He added that the State Government is also planning Rent-to-own (RTO) affordable housing scheme with a target of 22,000 residential units.
“To date, a total of 2,501 RTO units have been identified and offered periodically, most of which have been offered.
“The State Government will continue to look at other suitable projects to implement the RTO scheme to address the challenges in securing a loan for RMM Type A and B. This includes RMM at Mak Mandin and Murai Jaya,” he explained, adding that he is still discussing with relevant developers to also offer RMM type C under RTO scheme.
Earlier, Pengkalan Kota assemblyman Daniel Gooi raised a question on the State Government’s initiative to stimulate the growth of the housing development sector in Penang during the pandemic period.
He also asked the Exco to explain about the forms of assistance from the State Government offered to the people who wish to buy their first home, now.
Source: Buletin Mutiara
How about under construction project?
Sorry, done deal no more discount already.
How about upgraded affordable unit ? For example, price of upgraded affordable unit of Havana beach residence is 343k for 900 square feet, price of normal affordable unit is 300k with 850 square feet. Since new price for 900 square feet is 300k now, mean the price of 343k (affordable unit) also entitle for this discount too?
@Ooi
No. Based on the article, the 343k in your example can still sell at the same price because it’s still considered the 300k category. The normal affordable unit will see its price lowered down to 270k due to lesser than 900sq ft. But the most likely scenario is developer will add in some stuffs and claim it’s worth 30k rather than give you the 30k rebate. So, no change in the end.
Auntie Seow u really better than most property buyer in knowledge, Great.