The various steps under the 12th Malaysia Plan (12MP) to reinvigorate the country's economy post-pandemic will augur well for the housing sector, said Mah Sing Group Bhd founder and group managing director, Tan Sri Leong Hoy Kum.
The 12MP, according to Leong, is a positive step toward boosting economic growth, which will boost buyer confidence and prospects in the housing market.
The government's resolve to providing quality and affordable housing for Malaysians, particularly the B40 and M40 groups, was outlined by the 12MP.
Some 500,000 affordable homes will be brought to the market during the next five years, according to the development roadmap.
The government will also enhance the financing facilities such as Fund for Affordable Housing, Youth Housing Scheme, and Rent-to-Own Program to ensure that the B40 and M40 groups are not burdened with instalment payments.
According to Leong, these initiatives will provide a favourable climate for people and local companies to lay a solid foundation for the next five years as the country strives for sustained and equitable economic growth,
"The private sector can also support the government's initiative to provide more affordable housing for the B40 and M40. We can contribute by building inexpensive homes in important places with unique layouts that appeal to the general public," he said.
Mah Sing has extended its Mah Sing NOW campaign until December 31, 2021, citing high demand for the group's projects around the country.
For selected units in participating projects, the Mah Sing NOW campaign offers a three-pronged method for home purchasers to enjoy "three doses" of homeownership boosters, namely own now, zero now, and save now.
The participating projects are M Luna (Kepong), M Vertica (Cheras), M Adora (Wangsa Melawati), M Centura (Sentul), M Oscar (Off Kuchai Lama), M Arisa (Sentul), M Aruna (Rawang), Sensory Residence and Cerrado Suites @ Southville City (KL South) in Klang Valley.
In the Southern region, the projects are Meridin Bayvue (Sierra Perdana), Hazel, Orchid and Acacia @ Meridin East (Iskandar Puteri), Meridin Medini Condo (Iskandar Puteri), Meridin Medini SOVO (Iskandar Puteri), Meridin Medini 1 Retail (Iskandar Puteri), iParc (Tanjung Pelepas) and Ixora Park City @ Meridin East (Pasir Gudang).
In Penang, the project is Ferringhi Residence 2 (Batu Ferringhi).
According to Leong, the high immunisation rate and the opening of sales galleries have given the property business a much-needed boost.
He noted foot traffic in all of the group's sales galleries has increased significantly since the re-opening.
"Buyers are setting appointments to view our sales gallery to find their dream property. The encouraging feedback has boosted our confidence in extending the Mah Sing NOW campaign to ensure that all interested house buyers may take advantage of the benefits we provide," he said.
The Mah Sing NOW campaign was first rolled out in July this year.
The first dose (own now) allows purchasers to get in quickly, making it easier to get a loan from Maybank Houzkey.
The approach then extends zero payments to buyers, including zero downpayments, zero payment during construction, and zero legal costs on SPA (sale and purchase agreement) and financing in the second dose (zero now).
The entire purchasing process is completed with the third dose (save now), which will see the campaign provide significant savings, including up to 50 per cent off monthly payments, discounts on Memorandums of Transfer, and free furnishing.
"Our economy's recovery momentum is accelerating as the country rapidly approaches a 90 percent immunisation rate among the adult population. We hope that in the next Budget 2022, the government will give more catalysts for the industry and incentives for home buyers by introducing more property-friendly policies," said Leong.
Leong also hoped that the country's borders would open up soon, with appropriate guidelines in place to allow for the resumption of cross-border business operations.
"This would improve our country's competitiveness in the region and rekindle foreigners' interest in our assets," he said.