KUALA LUMPUR, Sept 30 (Bernama) -- The government, mindful of the need to continuously improve the regulatory and legal framework governing the country's housing sector, is adopting a two-pronged approach to this effect, Deputy Prime Minister Datuk Seri Najib Tun Razak said Thursday.

Firstly, he said, in line with the need to enhance Malaysia's global competitiveness, the government was committed to bringing about a more efficient public sector delivery system that was business and investor friendly.

The second approach was where rules and regulations and procedures governing the housing sector were being reviewed and where appropriate, simplified, the Deputy Prime Minister said in his speech at the launch of Malaysian Property Exposition 2004 (MAPEX) at the Mid Valley Exhibition Centre, here Thursday.

The four-day MAPEX, opened by Najib, attracted some 80 housing developers showcasing more than 26,000 units of properties with a total retail value of about RM7 billion.

"A clear example of the government's commitment to improving the public sector delivery system is the proposed professional certification in issuing the Certificate of Fitness for Occupation," he said.

He said the government also recognised the need to strengthen the legal protection of property buyers in line with an increasingly sophisticated, transparent and dynamic property market.

Najib said, in this respect, aggrieved house buyers facing late delivery of completed housing units, could now seek appropriate compensation through the Home Buyers Claims Tribunal.

"Despite the fact that the number of buyers' complaints in Malaysia is relatively low, involving only around 1.5 percent of total housing units sold. The government is committed to the second policy thrust of strengthening the protection of buyers' rights," he added.

In line with this commitment, the Housing Developers Act was amended last year to strengthen the role and powers of the Housing and Local Government Ministry, he added.

The Deputy Prime Minister also called on the house buyers to play an active role by taking the responsibility of checking the track record of developers and professionals involved in projects before making a decision to purchase a property.

"With more sophisticated and educated buyers, we are confident that the standards of the housing industry in Malaysia will rise," he added.

On another note, Najib said the National Property Information Centre in its recently released property transaction report stated that during the first quarter of the year, 40,256 units of residential property were sold with a value of RM5.9 billion.

He said while this figure reflected the underlying demand for housing, developers must continue to be prudent in order not to overbuild and upset the supply situation.

"In this respect, it is very important that potential demand for the products be carefully researched and studied before projects are launched to minimise the risk of productive resources being tied up in the future in the form of unsold units," Najib added.

-- BERNAMA