Look East, only closer

The Sabah solution is to specifically address the inability of paying the 10 downpayment and the reluctance of financiers to offer housing loan to individuals who could not even afford the 10 downpayment.

ONE can’t help but to feel the déjà-vu sensation upon every year’s budget speech made by our Prime Minister.

For the last three years, Datuk Seri Najib Tun Razak has introduced PR1MA to drive housing with an allocation from the initial RM500mil to the recent RM1.3bil of Budget 2015. Since Budget 2011, housing the nation has always been a key agenda and the Government has started off by introducing My First Home Scheme through the establishment of Cagamas Bhd that will provide a guarantee to banks for the financing of 10% downpayment for houses below RM220,000. Aiming at the low to middle income groups, this is a new governmental home widely known today as “affordable housing”.