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Penang HOC 3.0+ extended until end of next year

By admin Dec24,2023

The Penang government is committed to providing affordable homes through diverse schemes, assured Chief Minister Chow Kon Yeow.

He announced an extension of the ‘Home Ownership Campaign’ to a new phase, termed ‘Home Ownership Campaign 3.0 Plus,’ from January 2024 to December 2024.

He also highlighted a 10% reduction in the prices of affordable homes under the campaign.

“On the island, the maximum ceiling price of RM300,000 would be lowered to RM270,000, and on the mainland, the ceiling price of RM250,000 would decrease to RM225,000 for units with a minimum of 850 sq ft,” he said.

Stressing the importance of expos like this for both potential buyers and developers to understand market demands, Chow affirmed the government’s role in promoting homeownership.

“This is an initiative by the state government to help promote homeownership in the community,” Chow said during the Penang Affordable Homes and Property Expo at the Butterworth Arena today.

Meanwhile, Penang Housing and Environment Committee chairman Datuk Seri Sundarajoo Somu urged affordable home applicants to update their details through the Penang Housing Board’s housing information system.

Sundarajoo introduced a new affordable housing category for B40 families earning between RM3,500 to RM5,000, specifically targeting youths.

During the event, 20 applicants received offer letters as a symbolic gesture out of the 300 successful applicants for various affordable home schemes.

Sundarajoo also highlighted the establishment of the HOPE (Housing Outcome Performance Committee) to facilitate the process of offering affordable housing units.

source: Buletin Mutiara

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