A new housing loan package to easier qualifying requirements particularly for the first-time home buyers will be finalised by Bank Negara (BNM) next month, Housing and Local Government Minister Zuraida Kamaruddin announced today.
This will reduce the number of unsold units in the country, she told a press conference.
"Last week, we had talks with the central bank, the commercial banks, the EPF and the Finance Ministry.
"The outcome of the meeting was that the central bank came out with a preliminary draft which needed to be fine-tuned.
"However, it was enough to provide a guidance for relaxing housing loan requirements and the preparations are still in progress," she added.
"By August, they can come out with a plan and present it to the ministry and we may launch a new housing loan package (for first-time home buyers), especially those in the Middle 40 (M40) and Bottom 40 (B40) groups," she said.
Houses remain unsold due to locality, accessibility, loan approvals and high costs of houses, she said.
In its latest report on the Property Overhang for Q1 2018, the National Property Information Centre pointed out there were 34,532 units of unsold houses worth RM22.26 billion nationwide.
This was a rise of 55.72 percent compared to 22,175 unsold units in the same period last year.
In ringgit value, it increased by 67.82 percent from RM13.27 billion in the same period last year. - Mkini
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