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HBA wants the BTS model for affordable houses

SHOULDN’T buyers of affordable houses be given more protection? Do they have lawyers to advise them? And act for them in court against dishonest developers? Are they expected to spend a lot of money pursuing their interests and entitlement? Even the reasonably well-off suffer because of the lopsided sale & purchase agreement (SPA) provided by the Housing Ministry and exploited by developers. HBA’s long campaign against the sell-then-build (STB) system should be vindicated in the case of buyers of affordable houses. The buyers of affordable houses are people of modest means, and deserve to be protected. BTS 10:90 vs STB The current STB system has caused abandonment and, worst, foreclosure of the purchaser’s property by the developer’s banks. The STB is the developer’s dream as it allows...Read More

HBA takes legal action against KPKT

“Buyers of Palace Court suffered a delay in the delivery of their homes and the granted E.O.T. will now extinguish their compensation rights”, says HBA. The National House Buyers Association (HBA) has declared that it will be pursuing legal action against the Ministry of Urban Wellbeing, Housing and Local Government (KPKT) with regard to a project called Palace Court in KL, developed by BHL Construction Sdn Bhd. The decision, said the association, is so it can challenge the existence of Extension of Time (EOT) issued by KPKT to the developer, which has denied unit buyers the rights for entitlement of compensation in the form of liquidated ascertained damages (LAD) for the delay in delivering vacant possession of purchased units. According to HBA’s honorary secretary-general Cha...Read More

HBA looking forward to new govt’s promises on housing

PETALING JAYA (May 11): As Malaysians witness the establishment of a new government by Pakatan Harapan (Pakatan), the National House Buyers Association (HBA) is looking at the promises made in its election manifesto, especially with regard to affordable housing and homeownership with “high optimism and anticipation”. “The proposals from Pakatan are well thought out and if implemented right, can go far towards increasing the supply of affordable housing and reduce the threat of a homeless generation,” said HBA honorary secretary-general Chang Kim Loong today. First up, he said is the need to define ‘affordable housing”, “to ensure that this term is not abused by unscrupulous housing developers”. To the non-governmental organisation, its definition of “affordable housing” comprises three cri...Read More

Groups to submit memo against lease of private land for housing to PM

PETALING JAYA: The National House Buyers Association (HBA) and four other associations are preparing a joint memorandum against the proposed addition of a new chapter for private lease schemes in the National Land Code 1965. HBA secretary-general Chang Kim Loong said the decision was made after a briefing by HBA on the proposed private lease scheme and its ramifications at a meeting organised by Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector Malaysia (PEPS) held last Friday. “We will be jointly submitting a memorandum to the Prime Minister since the Natural Resources and Environment Minister has not been appointed. We are preparing the joint memorandum now and we hope to meet the Urban Wellbeing, Housing and Local Government Mi...Read More

First-time house buyers to gain

HBA is happy that more affordable homes are to be built under Budget 2015 and DIBS ban stays. THE National House Buyers Association (HBA) wishes to thank the Prime Minister for the measures announced in Budget 2015 to build more affordable homes for the rakyat. HBA is grateful that the Prime Minister rejected calls from the Real Estate and Housing Developers’ Association Malaysia and other groups with vested interest to reintroduce Developer Interest Bearing Scheme (DIBS) for first-time house buyers. DIBS The HBA is glad the Government has continued to heed our call to ban DIBS or any permutation that entails interest capitalisation. Developers, being entrepreneurs, have to be responsible and bear the risks that come with their investment. They should not be allowed to enjoy profits at the...Read More

Finally an honest admission – House prices in Malaysia are unaffordable

THE National House Buyers Association (HBA) is glad that the research report by Khazanah Research Institute (Khazanah Research) released on Aug 24, 2015 titled “Making Housing Affordable” shows that average house prices in Malaysia are more than four times the median income, which makes such properties to be considered as “seriously unaffordable”. HBA has been raising alarm bells for many years that prices of property in Malaysia have risen beyond the reach of the majority of the rakyat, both in the lower and middle income segments and unless serious measures are taken by the Government, an entire “Homeless Generation” comprising mainly the lower and middle income and the younger generation will not be able to afford to buy their own homes and this can bring about social problems for the c...Read More

BUDGET 2017 COMMENT The National House Buyers Association (HBA) secretary general Chang Kim Loong

The National House Buyers Association (HBA) acknowledges the challenges faced by our honourable Prime Minister (PM) in tabling Budget 2017 on Friday, 21st October, 2016 in view of the slowdown in the global and regional economies and also the steep drop of the Ringgit. We are grateful that out PM did not heed the advice from business groups with vested interest to relax some of the cooling measures announced previously to stem excessive speculation such as lowering the Real Property Gains Tax or re-introducing the Developer Interest Bearing Scheme for first time house buyers. We are indeed glad that a ‘status quo’ (an existing state of affair) was retained through the wisdom of our PM. The positive take from Budget 2017 in relation to property, in particular Affordable Home are as follows:...Read More

Affordable housing: How to own it?

Dream home: HBA has consistently called for government intervention to prevent a ‘homeless generation of young adult Malaysians’ from emerging, especially in urban and sub-urban areas, who, if not for wild speculation, would have been able to buy their own houses. THE National House Buyers Association (HBA) acknowledges the challenges faced by our Prime Minister in tabling Budget 2017 in view of the slowdown in the global and regional economies and also the weaker ringgit. HBA’s wish list to stem excessive speculation in the property sector that had caused the unbridled escalation of property prices will continue. We have also to continue to challenge some ill-concocted ideas that may prey on laxity by some departments. It was for this purpose that HBA accepted the invitation by the Financ...Read More

Winner of Home Buyers Champion Award 2016

Honourary- Sec Gen of National House Buyers Association (HBA)

Warning of ‘homeless generation’, HBA wants Rent-to-Own’ for middle-class too

PR1MA had on February 13 said a total of 1,377,639 people nationwide have registered for its homes. — Picture by Hafiz Sohaimi KUALA LUMPUR, April 4 — Putrajaya should expand “Rent-to-Own” housing schemes to cover the middle-class who are also struggling to buy homes and prevent the country from ending with a “homeless generation”, the National House Buyers Association (HBA) said.

Strata Management Act: ‘Let there be light’

The Strata Management Act (SMA) though has received its Royal Assent on Feb 5, 2013 and gazetted on Feb 8, 2013 was inordinately delayed because of the governing Strata Management (M&M) Regulations as well as a host of other crossed referred laws in the Housing Development (Control & Licensing) Act, 1966 (amended 2012), its HD Regulations (amended 2015) and the new statutory Sale and Purchase Agreements. It finally was implemented by the Minister of Housing and thus came into operation on June 1, 2015. Maintenance & management – the new regime As the country enters a new era of democracy, all of us are beginning to realise the importance of information so that we can be aware of our rights, obligations and responsibilities. This is especially true for owners who are concerned a...Read More

Management Bodies & Committees: The New Regime

BY The National House Buyers Association Strata management is a big topic. It covers issues ranging from harmonious community living, sharing of common property, power back into the hands of parcel owners, property management to pooling of financial resources to maintain and manage the subdivided building and the common property. Being a big topic, strata management involves many stakeholders – developers, parcel owners, property managers, service contractors, real estate agents, land surveyors and the government. Each of them has an important function to perform to ensure effective and successful strata management. Much has been reported about the challenges in strata living – from disgruntled parcel owners who demand transparency in the management of the maintenance accounts to parcel ow...Read More