New housing policy soon

New housing policy soon

PETALING JAYA: A new housing policy will be announced in the next one or two months with hopes of making it easier for home buyers to get housing loans approved, said Deputy Housing and Local Government Minister Datuk Raja Kamarul Bahrin Shah Raja Ahmad.

“The government acknowledges that the ability of the rakyat to purchase properties very much depends on their access to financing, which at the moment is hampered by the banks' strict lending policies,” he said during the launching ceremony of complex Wan Kien here today.

“My ministry is working with Bank Negara Malaysia to make it easier for home buyers to get their home loans approved,” he added.

“We look forward to be the bearer of good news soon when the final proposal is ready, In the next one or two months the new housing policy will be announced and we hope there will be more good news especially for those looking to buy their first home,” he said.

He declined to elaborate further.

He also stated that with the abolishment of GST and re-introduction of the SST in September, new properties are expected to be priced slightly cheaper due to savings from input costs.

Complex Wan Kien is a development project by automobile distributor City Motors Group Sdn Bhd.

The event saw a parade of 12 classic cars to commemorate the newly refreshed and rebranded commercial complex in Petaling Jaya formerly knows as Kompleks Penchala.

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