Housing Ministry to Work with Financial Providers to Address Loan Rejection by Banks

Posted on: 2019-08-22

To ease the housing glut which mainly arises from loan rejection, the Housing and Local Government Ministry is looking to work with financial providers other than banks to provide home loans.

Its deputy minister Datuk Raja Kamarul Bahrin Shah Raja Ahmad said there is still demand for housing but due to strict financial requirements set by the banks, many potential home buyers could not buy the houses they desire.

“Hence, we are looking to collaborate with other sectors to ease the people’s financial burden,” he said at the press conference after the launching of Placemaker Week ASEAN today.

He added that the goverment had also extended the home ownership campaign (HOC) which commenced early this year for another six months as there is a demand for it.

During the first six months of the HOC, over 8,000 units were sold with a transaction value worth RM5.7 billion.

However, this only constitutes 30 per cent of the total units offered.

Meanwhile, Raja Kamarul Bahrin said that as cities continue to develop, it is important to remain sustainable and liveable, which is in line with the United Nation’s (UN) Sustainable Development Goals.

“As the community grows, public spaces are important for everyone, the government and local authorities will continue emphasising the need for it. I hope that the private sector will continue collaborating with us to create better common spaces,” he said.

The Placemaker Week ASEAN, the first Asean placemaking programme to promote community driven public spaces, is presented by ThinkCity and UN Habitat and co-presented by Nextdoor Property Communications.

It will be held at selected locations in Malaysia including Johor, Penang and Klang Valley from Nov 4-8, focusing on three themes — waterfronts, historical streets and healthy communities.


Share:

Source From: iProperty.com

Other News & Articles


Lower Threshold For Strata Homes Could Jump-Start Property Market in Selangor

The Selangor government’s decision to lower the threshold of house prices for foreigners, particularly for strata homes, could jump-start the property market in the state...

Posted on: 2020-02-17

4.04 Hectares of Land to Build Over 100 Houses for Plantation Workers

Sime Darby Plantation Bhd has given 4.04 hectares of land for constructing more than 100 units of medium cost houses for the plantation...

Posted on: 2020-02-10

Bright Spot in Property Market

Petaling Jaya : While the property industry may still be in a slump, the industrial sub-sector seems to be an exception, with some property consultants calling it a “bright spot.” At a media briefing earlier this month...

Posted on: 2020-02-07