With Government’s approval in principle of the implementation of the
"build-the-sell" (BTS) concept, certain projects will be built first before
they are sold. House buyers will have to pay a 10% down payment and the
remainder will be settled upon completion of the house.
According to news report the BTS concept will be reviewed after two years.
This is not good enough. The government should be fully committed to the
concept by insisting that it will be the norm after two years as any
problems with its implementation will have been worked out by then. The
Ministry of Housing and Local Government is fully aware of the problems
faced by house buyers under the present
"sell-then-build" system.
It announced in October last year that there were close to 700 rogue housing
developers, including 16 bogus builders detected in a nationwide crackdown.
How many victims have these unscrupulous developers claimed?
Therefore the ministry must be committed in replacing the present "sell-
then-build” system with BTS.
The BTS concept is what consumers need and want. It is the only way that
houses should be sold.
