AS controversy rages over the suggestion for developers to lend money to prospective buyers who have difficulties getting financing to purchase properties, one question remains unasked: Will lower property prices help resolve the buyers’ financing problem? The logic is that by reducing prices, prospective buyers will be eligible to get a margin of financing that is sufficient to buy the developers’ products.
KUALA LUMPUR (July 21): First-time home owners continue to have access to financing, said Bank Negara Malaysia (BNM), in response to calls for lending guidelines to be reviewed to ease home ownership for first-time homebuyers.
CONTRARY to the expectation of most economists, Bank Negara Malaysia cut the overnight policy rate (OPR) by 25 basis points to 3% last Wednesday, following its counterparts from Indonesia, Singapore and Taiwan.
PETALING JAYA (July 14): Bank Negara Malaysia’s (BNM) decision to cut the overnight policy rate (OPR) by 25 basis points to 3% is expected to have a positive impact on borrowers and the property sector, said property developers and mortgage firms.