NILAI: The authorities will look into ways to make it easier for the young to buy their own homes.
Housing and Local Government Minister Zuraida Kamaruddin, who announced this yesterday, said a meeting would be held with Treasury and Bank Negara after Hari Raya to discuss guidelines on housing loans for this group.
“I am aware that there are young people who are getting their applications for bank loans rejected. Sometimes, it is simply because they have been blacklisted by PTPTN.
“We will talk to the stakeholders concerned and do the needful,” she said yesterday after launching Tower D of the Youth City project owned by GD Holdings Sdn Bhd.
Zuraida said banks had also rejected applications without taking into account the passive income of the applicant.
“Some young people earn extra income doing other side jobs. And since some have their parents to back them up, maybe banks can consider this,’’ she added.
Zuraida said the ministry would also see if the programme to make it easier for youths to own homes under the SelangorKu model could be implemented at the national level.
Under the model, those renting units owned by the state government for between two and five years will get a 30% refund when they move out.
The money can be used to pay part of the downpayment for their property.
Earlier, GD Holdings Group managing director Huan Woon Han revealed that between 30% and 40% of potential buyers of the Youth City project had their applications for bank loans rejected.
On Tower D which will have 955 studio and three-plus-one bedroom apartments, Huan said the units were priced affordably from RM230,000.
“At GD, our philosophy is not just to develop a project. We also consider the potential appreciation of the property.
“Apart from providing ideal homes, we also endeavour to ensure all our projects will appreciate in value,” he added.
In her speech earlier, Zuraida commended GD Holdings for winning the Best Integrated Township Development and Best Innovative and Responsive Developer awards by Property Insight earlier this month.
GD Holdings executive chairman Datuk Seri Yeat Sew Chuong later handed over a RM100,000 donation for Tabung Harapan to Zuraida.