KUALA LUMPUR: In a move to tackle the rising cost of living, financial advisory firm FA Advisory Sdn Bhd has proposed that the government introduce a ...
: In a move to tackle the rising cost of living, financial advisory firm FA Advisory Sdn Bhd has proposed that the government introduce a mortgage flexibility scheme for first-affordable home buyers.
“Maybe for the first five years or so, the interest rate could be reduced to a minimum of one per cent or so. This will put more cash directly into the pockets of those paying for a mortgage,” he said during a media briefing on the Financial Planning Association of Malaysia's Budget 2024 wishlist here today.Zeng also suggested that banks allocate a certain amount of affordable financing for first-time buyers.
The government may also consider providing a loan guarantee to developers or owners of new vacant units. He said the housing mismatch between price and affordability continues to be a vital issue and this has resulted in an overhang in the industry with new developments being built beyond the needs and demand of certain locations.“How liveable is the location? Is public transport planned properly? Is it accessible to the core economic areas? Is it a place that people want to stay in? These things need a lot of research, planning, and execution,” he said.
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