JOHOR BAHRU – The Johor State Government has requested Bank Negara Malaysia (BNM) to review housing loan policies to enable buyers own homes worth more RM140,000 in Iskandar Malaysia.
State Housing and Local Government Executive Committee chairman, Datuk Abdul Latif Bandi, said such move was needed to help developers overcome the difficulty of selling their housing projects and excess homes.
“The problem is that banks don’t give out loans. Even though the buyers command salary of RM10,000 a month, the banks will not release loans so long as they see the buyers having other debt paying commitments.
“Hence, BNM has to study the housing needs,” he said after opening the 17th annual general meeting of the Bumiputera Contractors (Cleaning Services and Solid Waste Disposal) Association of Johor here today.
He was responding to a survey conducted by Malayan Banking Bhd on excess of luxury homes in Iskandar Malaysia recently.
Abd Latif said with studies, he hoped BNM would remove restrictions on lending to Johorians and Malaysians in general.
“We also recommend housing developers build more affordable housing as this will also resolve the problem of excess homes,” he said. – BERNAMA