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If you do not ‘qualify’, please don’t buy

The Star PictureA man went down on his knees in Penang today. His plea? He hopes that the developer would not force him to pay extra on top of the RM72,000 that he has paid for the medium low cost housing that he is paying for. He said that the developer is forcing all the buyers of the medium low cost unit to pay an extra RM100,000. He has no such money to pay and he hopes that the Chief Minister would intervene and help him and a group of 52 other buyers. Later, the State Housing, Town and Country Planning Committee chairman, Mr. Jagdeep Singh said, ‘The price is RM72,500 per unit and you must follow. I will call the developer to get an explanation next week.’

The purpose of this article, besides highlighting this sad fact is also to remind developers to be more responsible where medium low cost properties are concerned. You are not just building a house for profit but for such units, it is also a community service. If you really cannot do it, then do not build it. Thus far, I do not know of any state government which is able to point a gun to a developer and forces them to build.

The second plea is echoing what my friend told me just few days ago. Her mother’s relatives asked her mother to go and apply for these medium low cost housing since she has never owned any property before. However, her mother said no because she already have a roof over her head. Besides her daughter, my friend is a successful manager in a multinational. Why want to take away the opportunity of those who really need it? Reminder. If you do not qualify, please don’t buy!

Next suggested article: Penang property market – Value and Transaction numbers

Photo Source: http://www.thestar.com.my/News/Nation/2014/02/14/Buyer-brought-to-his-knees-over-lowcost-home/

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kopiandproperty.com is everything about property related writings and news. Enjoy reading with a latte.

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2 Comments

  • Henry on February 17, 2014

    Medium cost housing is an requirement by the State.

    If don’t build, developer’s project will not be approved.

    99% of Developers will not build medium cost as it is a total lost to them.

    • chialih on February 17, 2014

      Henry, I think there should be a better mechanism for making this work.

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