Preventive enforcement and proactive scheme needed to help rakyat own homes
The authorities need to take stringent action against abuses of PPR and at the same time, work out the RTO for the deserving.
The authorities need to take stringent action against abuses of PPR and at the same time, work out the RTO for the deserving.
Condos, apartments, serviced residences – these are becoming popular choices for urbanites, but many are not equipped with the basic knowledge of being a strata property owner.
Talks of the government wanting to promote second-generational loans or dual-generation housing loans are rife, but what is the cost to the rakyat? Doubtless, Malaysia is currently facing a housing crisis where the majority of the rakyat cannot afford to buy their first homes.
The exploitation by private liquidators – making a fortune from homebuyers’ misfortune – is a double whammy for the victims who are already facing the complications from their defunct property developers.
We crucially need a system to establish the ratio of annual income to house price at 1:3 at the most and not 1:6 as it is now.
All of us are hoping for a brighter future, and for this to happen, we need effective and sustainable policies that are properly thought out and implemented with the rakyat’s interest in mind.
The developer should not arbitrarily impose an exorbitant administrative fee and benefit itself for its own neglect in applying for the strata title.
There seems to be an ongoing attempt at circumventing the Federal Court decision to allow the authorities to again extend the deadline for delivery of vacant possession.
The man in the street thinks we now have a DIY SPA vide eSPA and there is no need for the services of lawyers in property purchases.
With 580 sick projects against 2,552 launched projects, it also indicated that nearly 23% of house buyers’ fates were determined by those errant developers According to the government’s statistics, as of March 31, 2022, the number of “sick” private housing projects rose to 580, comprising 102,132 units, which affected a total of 51,000 house buyers compared to 365 sick projects comprising 48,826 units affecting a total of 26,145 buyers in March 31, 2020 (Table 1).