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Speech by Dato Hj Zainuddin Hj Bachik, Chairman of  House Buyers Association, at Home Ownership campaign and exhibition organized by MESSE on 27.7.2001 at Putra World Trade Centre.

The House Buyers Association welcomes the Home Ownership promotional campaigns initiated by PAID 2001. This campaign like the previous ones in the past, is held to boost up sales and also to spur up the taking of oversupply of houses/apartments and commercial properties by purchasers as a result of properties overhang in the market.

House sales campaigns by the developers should only be held if there are additional offers to be given out in the forms of price discounts and increase maximum loan amounts by the banks or financial institutions to meet their loan targets as directed in order to revitalize the slowing down domestic economy.

However, in spite of several incentives given by the government such as exemption of stamp duties for property transactions and other incentives under the FIC guidelines. the House Buyers Association noted that similar previous campaigns held did not receive overwhelming response from purchasers. This lukewarm response were attributed to many factors.

Housebuyers, today, are more cautious and becoming more aware of their rights. They would rather buy houses from developers with proven good track records who could deliver quality houses and give absolutely no hassle in their dealing with the purchasers.

Housebuyers have become much wiser and choosey in the determination to buy houses that meet their choice and from developers that can be trusted. It would not be surprised that one day in the near future house buyers might reject or boycott the purchase of houses that did not measure up to their expectations and not commensurate with costs of houses from certain developers.

House Buyers Association would urge developers to be more sensitive tot he grouses of house buyers and to execute a fair and equitable dealing with them, as ultimately the choice of buying a house rests absolutely on the prerogative of the buyers.

Profits alone should not be the developer's yardstick and primary objectives. They should also look upon their venture into business of building public housing as a social obligation to the people and country. They ought to manifest a desire to make the housing industry in this country that the nation can be proud of and equivalent to the best in this region.

The complaints against developers, committing underhand tactics, unfair treatment to house buyers and ignoring their responsibilities are not new. There were innumerable reports from all over the country of house buyers facing problems from errant developers as early as 1991, if not earlier.

We might tend to question why it has taken so long for the authorities to take remedial action to address the problems while in the bud? The house buyers problems have escalated over time, causing them much miseries. It is not too late to mend the situation if immediate action is taken by the authorities to restore the people's confidence.

The House Buyers Association is strongly of the view that no justice will ever prevail to the people's plight and predicament unless an appropriate and rigid law is enabled and strictly enforced providing for the protection of house buyers' rights. There should be no time to waste giving unrelated excuses to this episode.

Lastly, I would like to thank MESSE and Mr Elson Moey for inviting us to this function.


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