‘Ac­cess to end-fi­nanc­ing crit­i­cal to suc­cess of pub­lic hous­ing schemes’

The Sun (Malaysia) - - SPEAK UP -

PE­TAL­ING JAYA: Af­ford­able hous­ing pro­gramme cham­pion PR1MA has come out to re­it­er­ate that eas­ier end-fi­nanc­ing ac­cess for home buy­ers re­mains a crit­i­cal com­po­nent to en­sure the suc­cess of Malaysia’s pub­lic hous­ing pro­grammes.

CEO Datuk Ab­dul Mu­talib Alias told Sun­Biz via a state­ment that while PR1MA abides by Bank Ne­gara Malaysia’s de­ci­sion to re­tain the 35 years max­i­mum hous­ing loan re­pay­ment pe­riod, he pointed out that end­fi­nanc­ing is a per­ti­nent is­sue that can­not be ig­nored in an ef­fort to re­solve home own­er­ship woes among the mid­dlein­come group with a monthly house­hold in­come of be­tween RM2,500 and RM10,000 (the M40 group).

As an agency man­dated specif­i­cally to look into the hous­ing needs of the mid­dle in­come group, he said, PR1MA un­der­stands the chal­lenges faced by this par­tic­u­lar group, also known as the “sand­wiched group”.

“From the anal­y­sis of our reg­is­trants’ data­base and var­i­ous sur­veys, we are very much aware of the fi­nan­cial hard­ship faced by this group. They too are af­fected by the es­ca­lat­ing cost of liv­ing and are not spared.

“When one talks about pub­lic hous­ing, one must be mind­ful that we are tar­get­ing those who may or may not have ad­e­quate fi­nan­cial ‘mus­cle’ to pur­chase a house. End-fi­nanc­ing is a crit­i­cal com­po­nent in a home­buy­ing process and bet­ter ac­cess to it helps in­crease the chances of get­ting af­ford­able hous­ing for the mid­dlein­come group,” he added.

“PR1MA is step­ping up its sales and mar­ket­ing ef­forts and we hope there will be eas­ier ac­cess to end-fi­nanc­ing to en­sure that el­i­gi­ble home buy­ers do not miss out on the op­por­tu­nity to own a home,” Ab­dul Mu­talib said.

It is a per­ti­nent is­sue that can­not be ig­nored, says Ab­dul Mu­talib

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