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.
