National Housing Policy To Protect House Buyers

24/05/2008 Bernama

KUALA LUMPUR, May 24 (Bernama) -- The government will introduce a national housing policy soon to address problems of abandoned housing projects and protect house buyers, Deputy Housing and Local Government Minister Datuk Hamzah Zainuddin said.

He said the ministry, in drafting the policy, would also discuss with housing developers on ways to overcome the problem.

Speaking to reporters after performing the ground-breaking ceremony for the Casa Idaman condominium project here Saturday, he said under the new policy, the licensing fee imposed on developers, which is RM250,000 currently, would be increased, adding that a formula was being worked out on the matter.

The contents of the sales and purchase agreement will also be scrutinised to ensure justice for both the developer and the house buyer, he added.

Hamzah said implementation of the proposed policy would also enable the ministry to monitor closely progress of housing projects carried out by developers.

Impementation of the policy will ensure only credible, experienced and developers with strong cash flow are given opportunities to develop projects, he added.

-- BERNAMA