MINISTRY WANTS BUILDTHEN-SELL SYSTEM FOR ALL HOUSING PROJECTS
Ministry to coordinate housing projects, says Zuraida
THE Housing and Local Government Ministry will coordinate housing projects implemented on a build-then-sell basis. Its minister, Zuraida Kamaruddin, said the move was to ensure the problem of long abandoned projects could be addressed.
“We will adjust the build-thensell policies, rather than opening bookings to buyers when the project has not even reached 10 per cent completion.
“I have encountered a lot of cases where the housing project is not completed even though it has already been 10 years.
“What’s worse is the buyer needs to pay the loan instalments.
“Many are upset because a sale and purchase agreement like this is senseless. So we’re going to remedy this,” she said in an exclusive interview with NSTP yesterday.
Zuraida said other aspects to be revised include making it easier for applicants to obtain housing loans.
The matter, she said, would be raised with the Finance Ministry and Bank Negara Malaysia.
“Some people have second jobs, but this is not taken into account by the banks when considering loan applications. “Secondly, income from couples and siblings should also be taken into account.”
She said applicants’ changing income through the years should be taken into consideration, adding that this would qualify them for higher housing loans.