Kota Kinabalu: The Sabah Housing and Real Estate Developers Association (Shareda) has set up a database to prevent abandoned projects.
Its President Datuk Chua Soon Ping said the database was created together with the local authority to plan housing projects in certain areas.
Meanwhile, he said, the developers faced several issues to provide houses to the public, especially due to the price and bank loan approval.
“Among the problems that we (developers) face are the prices of houses are too high, around RM700,000, whereas most people can only afford prices around RM500,000,” he said when paying a courtesy call on Head of State Tun Juhar Mahiruddin at the Istana Negeri, here, Tuesday.
“Most people want terrace houses but developers now tend to build condominiums.
“Apart from that, buyers face problem with financing their houses – when they apply for a bank loan, only 60 per cent to 80 per cent of the price was covered, while they need to fork out the balance of 20-30 per cent on their own.”
To this end, Chua reminded housing developers to review their co-operation scheme and mechanism with banks to facilitate buyers getting the full funding.
Also present was Shared Deputy President Datuk Quek Siew Hau.
