Thursday 28 Mar 2024
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KUALA LUMPUR (Oct 21): The Real Estate And Housing Developers' Association Malaysia (REDHA) is calling on the government to extend the special step-up financing scheme of 90%-100% loan given to buyers of PR1MA homes in Budget 2017, to private developers too.

"In areas where PR1MA is not present, we hope that this incentive can be given [to private developments] as long as the [price] threshold of these houses is the same," president Datuk Seri FD Iskandar told reporters today.

Iskandar also expressed hope that the government would extend the opening of government lands for the development of 30,000 units of affordable houses to private developers.

"While we commend the initiative to open up government lands in strategic locations to GLCs and PR1MA, we hope the government would consider expanding the initiative to private sector developers," Iskandar said.

”If private developers can do it for the same prices, why not?” he said, citing that REDHA members may have local content and expertise in areas where PR1MA or GLCs would not want to go into.

REDHA also commended the government's effort in making affordable housing a priority in the Budget tabled today.

However, the association hopes the 100 stamp duty exemption for first time home buyers will be extended to a higher threshold of RM500,000 — instead of limiting it to houses priced up to RM300,000 only — saying the government should take into account house prices that are higher in major cities.

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