Published on: Sunday, May 18, 2014
Tawau: Malaysia is the third country in the world after UK and Australia to give incentives of RM30,000 to qualified first-time house buyers with an income of RM3,000 to RM6,000 and the ceiling house price of RM250,000 per unit.
State Youth and Sports Minister Datuk Tawfiq Abu Bakar Titingan said the Government had spent RM5.46billion to build affordable homes for those in the low and medium-income brackets since the Eighth Malaysia Plan through various housing schemes, including the latest for the first-time house buyers.
"All these are to help realise the Government's aspiration to provide affordable housing and ensure in year 2020 everyone owns a home," he said at the opening of the Property Hunter Expo at Dewan Lau Gek Poh, here.
Tawfiq said this year the Government had allocated RM300 million for 10,000 units of houses under the MyHome Scheme in the country and he strongly urged Sabahans aged 18 years and above to grab the RM30,000 incentive given once in a lifetime by the Government before the quota is fully taken.
At the same time, Tawfiq also congratulated Shareda for their noble initiative to build 10,000 units of affordable homes for the local community within the next five years (2014-2018).
He also urged bankers to relax the stringent conditions and to provide end financing to first time house buyers selected by the MyHome Scheme Buyer Selection Committee.
"I was informed that there are 28 affordable housing projects listed by Shareda members with some already obtaining approval but still pending for other approvals such as conversion of land use, letter of offer for land premium, etc," he said.
Meanwhile, Tawfiq also reminded property investors in the State to be cautious when investing in property and avoid speculative investment behaviour.
He said while property is a good tool in preserving wealth, it should be treated as a steady long-term investment tool.
"At least, the invested property is occupied and not left idle which may attract negative outlook and comments from various sectors," he said.
Also present were the President of Tawau Municipal Council Datuk Ismail Mayakob, Shareda Vice President John Tan Duo Zer, Shareda Council Dato Jimmy Pang Kia Lock and Shareda Council member cum Joint Organising Chairman, Sr. Chua Soon Ping.
Over 32 exhibitors consisting of local and international developers, property agents and banks are taking part in the three-day expo from May 16 to 18 starting from 10am to 8pm.