Potential Home Owners Heading Towards Homelessness in Urban Areas in Sabah
PKR Supreme Council Member cum PKR Sabah Secretary Dr Roland Chia is questioning the sincerity of the BN government in providing housing shelter for the lower and lower middle income group.
Dr Roland Chia was making this statement in view of many complainants who came to him and has lamented that it is virtually impossible to own affordable houses in this present economic climate of steeply increasing prices in residential properties with their meager income salary. Whilst the inflation rate will continue to rise, the consumer price index is steadily increasing. There will hardly be any disposable income for the lower and middle income group to own a house in addition to saving up for their future.
With the recent declaration by the developers witnessed by the Sabah State Government in a recent property launching stating that it is impossible to own a home in Kota Kinabalu for under RM200,000, it just added woes to potential struggling home owners.
With the few initiatives to provide financing schemes, it seems to be more empty promises rather than reaching out to facilitate struggling home owners.
The recently launched “My First Home Scheme” proved to be a disaster as they was only one person in Sabah out of 10 successful applicants nationwide who managed to get the 100% loan financing from the banking institution. The scheme entails young Malaysians earning RM3500 or less to obtain full housing loans to buy the first house priced below RM400,0000 as of date.
As for the other 1 Malaysia People Housing Program that offers first time buyers to own homes of between 800sq ft and 1400sq ft to obtain a 105% loan to purchase properties below RM300,000, even this that has been much talked about has yet to be extended to Sabah. Why launch if you are not prepared to implement with a set dateline.
PKR Sabah is highly suspicious that it is just a political gimmick to win votes rather than genuine concern with the need to provide housing for the marginalized society and also the younger generation who are forced to live in with their parents or grandparents.
To add salt to injury, the controversial deal for to use retirement funds of EPF stakeholders’ money to channel RM1.5bil to the Federal Territories Foundation as part of a special funding scheme to purchase public housing is a sure indication that the government is losing its grip on providing housing shelter to the low and middle income group. Even this is not extended to Sabah also despite the 1-Malaysia Slogan.
The loans will definitely not make money for EPF and the risk of payment default would be high because most of the purchasers are from the lower income group who already have difficulty making ends meet. Dr Roland Chia said the Government must consider EPF contributors’ interests and not abuse the fund as it serves as a safety net for retirees.This does not augur well with Rakyat Didahulukan Pencapaian Diutamakan.
