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PETALING JAYA, July 6 (Bernama) — The Real Estate and Housing Developers’ Association Malaysia (REHDA), Ministry of Housing and Local Government (KPKT) and Media Prima Omnia Bhd will be jointly organising the Jom Beli Rumah Carnival to encourage homeownership among the people.
To be held at the Mid Valley Exhibition Centre from July 15-17, 2022, the carnival would mainly cater to the B40 and M40 income groups, featuring affordable properties priced from RM250,000 onwards, said REHDA acting president Datuk N K Tong.
“This is the right time to consider buying properties because it is a good hedge against inflation in the long run,” he said during a press conference on the carnival here today.
Although interest rates have been fluctuating, he said the property segment would retain its value in the long run and hopefully outpace inflation as well.
As for the carnival, Tong said 17 top property developers, six financial institutions and several government agencies will be participating in the three-day carnival.
The opening ceremony is scheduled to be officiated by Prime Minister Datuk Seri Ismail Sabri Yaakob and KPKT Minister Datuk Seri Reezal Merican Naina Merican on July 15.
Meanwhile, the National Housing Department director-general, Datuk Jayaselan Navaratnam said the ministry has applied for the extension of the Home Ownership Campaign (HOC) and is currently awaiting the government’s approval.
“We are hoping that the additional 10 per cent discount under the HOC will be available for this carnival and would cushion the rising interest rate and inflationary pressures to provide affordable prices for the people,” he said.
Those who wish for more information on the carnival may visit mapex.com.my/kjbr-2022 and hope.kpkt.gov.my.
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