KOTA KINABALU: The State Local Government and Housing Minister will hold discussions with Bank Negara on the high rejection rate of loan applicants including those seeking to buy properties under the affordable housing scheme.
Datuk Seri Hajiji Noor said he believed with the cooperation and support of all parties including financial institutions, an amicable solution could be found so that more people can own houses.
“My ministry is very concerned that the rejection rate of loan applications for houses costing RM250,000 and below is 75.30%,” he said at the annual dinner of the Sabah Housing and Real Estate Developers Association (Shareda) here.
Hajiji expressed concern that despite an abundant supply of affordable homes in the market, many Malaysians, especially the young, still face obstacles in wanting to own their own homes.
On a different matter, he said the ministry will seriously consider the recommendations and proposals forwarded by Shareda to shorten the waiting time for the approval of development plans.
“But housing developers must also give their fullest co-operation when forwarding applications to the local authorities by fulfilling all requirements,” he added.
Hajiji said he was satisfied that Shareda was meeting its pledge to build 10,000 units of affordable houses as some 6,396 have been implemented while another 1,280 are in the pipeline.
He also commended Shareda for going out of its way to help 97 owners of flats at Taman Kepayan to secure titles while efforts are ongoing to help apartment owners of Taman Kendara 1.
“I cannot praise Shareda enough for recent environment preservation initiatives wit the Sabah Wetlands Conservation Society and contribution towards the conservation of the mangrove forest in Sabandar, Tuaran.”
Also present at the dinner was Shareda president Datuk Francis Goh.