‘’In just that short period, we now hear reports that it is now B50 because the middle class has slid down.
He has done his homework, evaluated the costs and learned that loans are a major stumbling block for the B40.Vincent is pushing the concept that BMF, in collaboration with, has designed a 900-sq-ft five-bedroom, four-bathroom show apartment specifically for this initiative. Both he and his businessman brother, Tan Sri Danny Tan, had to share a rented room when they first came to Kuala Lumpur to work.
EPF, in its latest findings, reported that most of its members in the low–and middle–income groups are likely to live in poverty in old age unless mitigation measures are taken. According to Khazanah Research Institute, current trends indicate that both the B40 and a segment of the M40 of income earners require some form of social housing or assistance in buying their first home.
“Come to see the model flat at Berjaya Times Square. It can be done. Can you imagine a family of six? The father and mother take one room. It said the government can offer land at subsidised prices or leased for a 99-year period to property developers catering to the B40 sector. To tackle the issue of the B40 group unable to apply for housing loans due to financial difficulties, the BMF has suggested innovative finance solutions.
Vincent urged the federal and state governments to sell development land at a low cost to developers to build affordable housing projects, especially in urban locations close to transport hubs.
“We understand that the loan applications of 60% of buyers of affordable homes are rejected by banks and financial institutions due to age or poor credit scores. The federal and state governments must also be willing to sell development land cheaply to developers to build affordable houses, especially in urban locations close to transportation hubs, which would translate to lower purchase prices for low-income house buyers.
Source: Real Estate Daily Report (realestatedailyreport.net)
Most investors buy those house and the poor can’t buy ....... infact this is not job of investors ....... government just quite .......
Many poor Malaysian parents gotta bring food to the table first ... because life is tough. That's the trouble with cronies like Vincent Tan. Insensitive.
Agreed.
Good,