KUALA LUMPUR- The National House Buyers Association is urging the government to deal with the issue of abandoned housing projects in its plan for the housing sector.
The association’s secretary-general, Chang Kim Loong, said it supported the government’s election pledge to build a million affordable homes.
“We want to find solutions for affordable housing for Malaysians, said Chang, who met the Eminent Persons Council briefly this afternoon.
His recommendations included a build-then-sell (BTS) system.
“Under a BTS 10:90 system, house buyers pay 10 per cent when booking and 90 per cent when the housing project is completed,” he said.
Chang also brought up the issue of developers being given more time to complete housing projects, which was unfair to house buyers.
Referring to a case in which a developer was given a 12-month extension by the previous government, he said: “The developer was supposed to hand over vacant possession within 36 months. If not they must compensate buyers. But, they went to see the minister and got an extension, which meant that house buyers were not entitled to compensation. Its not fair.”- New Straits Times