Buyers' welfare



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Buyers' welfare
NST 22/11/2005

It is comforting that the Housing and Local Government Ministry is finalizing its memorandum to the Cabinet for a decision on the build- and-sell, sell-and-build and any other schemes to finance a house.

Never has the ministry done so much research on this issue. It now provides on its website information on developers who have flouted the law. This is a most important development in people-oriented governance.

The outcry over the build- and-sell concept is derived from the troubles of house buyers when projects fail developers abscond or become bankrupt.

Legal agreements in such cases cannot really help the buyer who has to continue repaying his housing loan.

Further more even build- and-sell and better enforcement by the authorities is no guarantee that rogue developers will be totally phased out.

What must cease is the continued liability of buyers, especially of low- and medium-cost houses, to pay for the developer's default.

The nation undoubtedly enjoys a higher standard of living but middle and lower income groups cannot afford to pay for a house they can- not get. How their welfare can be ensured has to be looked into and not evaded.

DATUK SERI YUEN YUET LENG
Ampang

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National House Buyers Association (HBA)

No, 31, Level 3, Jalan Barat, Off Jalan Imbi, 55100, Kuala Lumpur, Malaysia
Tel: 03-21422225 | 012-3345 676 Fax: 03-22601803 Email: info@hba.org.my