news

LBS Bina: More measures needed to bring down housing prices

PETALING JAYA (Oct 5): More incentives needed to encourage developers to embrace the industrialised building system (IBS) which could help reduce dependency on foreign labours, urged LBS Group managing director Tan Sri Lim Hock San (picture).

In its budget wishlist media statement today, Lim stressed that the adoption of construction technology could also reduce construction costs, which in turn making houses more affordable.

"The IBS system embraces modern technology that can reduce dependency on unskilled foreign workers, building cost and increase productivity, eventually bringing down house prices," Lim said.

Meanwhile, he observed that property affordability is still the main concern for property buyers, especially first-time home buyers, hence the extension of the Home Ownership Campaign 2020-2021, which started from June 1 this year and ends on May 31 next year, is important to spur market interest.

Lim also urged the government to introduce a special low interest rate for housing loans for first-time home owners, especially the younger generation to enable more homebuyers to secure housing loans.

Get the latest news @ www.EdgeProp.my

Click here for more property stories.

Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.
SHARE
RELATED POSTS
  1. LBS: Planning ahead, staying ahead
  2. LBS Bina’s 2QFY21 revenue ups 59% to RM265.9m
  3. LBS Bina’s 1Q net profit more than doubles