Selangor Calls Real Estate Agents, Avoid Unfair Sales of Low-Cost Housing

SHAH ALAM, 14 Mar: The State Government will call real estate agent representatives through the Malaysian Institute of Estate Agents as there was an advertisement to sell low-cost housing.

The Housing Executive Councillor, Iskandar Samad, said that this approach is taken to ensure that the sales of low-cost housing is done fairly and only those eligible have the opportunity to buy them.

He said that even though a buyer meets the requirements, but their names should come from the State Government, through the Selangor Housing and Property Board (LPHS).

3.1

“Low-cost housing is controlled in terms of price and ownership. The selling price of low-cost housing is lower than the cost of build it,” he said, quoted from Harakah Daily.

He said that the State Government will not allow anyone to cut ‘queue’ and the meeting with real estate agents is to clarify the requirements and procedures.

“It is hoped that we can avoid having incidents where buyers are disappointed and blame the State Government if their ownership transfer is not successful,” he said.

The State Government requires for developers who develop lots over 10 acres to build low-cost housing in effort to help the people earning a low income to own homes.

Among the requirements for ownership is that buyers does not yet own a low-cost house and the buyers household income needs to be below RM2,500 a month.

He said that there are some buyers who have also paid a deposit of purchase but did not receive permission to transfer ownership from the State Government as they did not fulfil the criteria involved.

“In the end, they failed to receive a bank loan and lose the deposit paid. This, obviously, happened to those who bought houses from the original owner.

3.2

“However, even if buyers purchases a home with cash, the home ownership will remain in the name of the original owner,” he said.

He said that there is an advertisement selling low-cost homes, which are still being constructed, by original owners.

“Those who want to buy low-cost houses must register with the Selangor Housing and Property Board (LPHS). The State Government wants to ensure that the sale of low-cost housing is done fairly and only those who qualify have the opportunity to buy it,” he said.

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SELANGOR

Selangor Calls Real Estate Agents, Avoid Unfair Sales of Low-Cost Housing

SHAH ALAM, 14 Mar: The State Government will call real estate agent representatives through the Malaysian Institute of Estate Agents as there was an advertisement to sell low-cost housing.

The Housing Executive Councillor, Iskandar Samad, said that this approach is taken to ensure that the sales of low-cost housing is done fairly and only those eligible have the opportunity to buy them.

He said that even though a buyer meets the requirements, but their names should come from the State Government, through the Selangor Housing and Property Board (LPHS).

3.1

“Low-cost housing is controlled in terms of price and ownership. The selling price of low-cost housing is lower than the cost of build it,” he said, quoted from Harakah Daily.

He said that the State Government will not allow anyone to cut ‘queue’ and the meeting with real estate agents is to clarify the requirements and procedures.

“It is hoped that we can avoid having incidents where buyers are disappointed and blame the State Government if their ownership transfer is not successful,” he said.

The State Government requires for developers who develop lots over 10 acres to build low-cost housing in effort to help the people earning a low income to own homes.

Among the requirements for ownership is that buyers does not yet own a low-cost house and the buyers household income needs to be below RM2,500 a month.

He said that there are some buyers who have also paid a deposit of purchase but did not receive permission to transfer ownership from the State Government as they did not fulfil the criteria involved.

“In the end, they failed to receive a bank loan and lose the deposit paid. This, obviously, happened to those who bought houses from the original owner.

3.2

“However, even if buyers purchases a home with cash, the home ownership will remain in the name of the original owner,” he said.

He said that there is an advertisement selling low-cost homes, which are still being constructed, by original owners.

“Those who want to buy low-cost houses must register with the Selangor Housing and Property Board (LPHS). The State Government wants to ensure that the sale of low-cost housing is done fairly and only those who qualify have the opportunity to buy it,” he said.

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