Malaysian Trades Union Congress (MTUC) hope that the Federal Government will introduce better scheme in the Budget 2017, scheduled to be presented in Parliament next month, to ease the burden of new house buyers.
We still hears about the difficulties experienced by the rakyat to own a house. A comprehensive approach should be introduced to overcome the difficulties of getting house in the long term.
We have to admit that difficulties have worsened after the government introduced GST in April 2015. As such, MTUC hope that facilities that can ease the burden of buyers would be introduced in the 2017 Budget. We do not deny some incentives have been introduced in Budget 2016, but we are in a view that steps were not enough. The increase in the cost of living also complicates the opportunity to buy a house.
We know that the market price is not just determined by the demand, to some extent it is also determined by the real estate agents. This is a real situation. This situation has persisted for quite some time, where buyers at times falling victim to ruthless real estate agents. Housing, especially landed property in main towns, is only affordable to those with a five-figure monthly salary or more. Others can only look at and dream of owning one. This the dilemma we are facing today.
Thus, MTUC also hope the Cabinet will not allow developers to provide housing loans as recommended by the Minister of Urban Wellbeing, Housing and Local Government, Tan Sri Noh Omar recently.
Rather than allowing developers from lending money, we hope that the Federal Government will improve the home financing policy and constructive measures will be announced in the 2017 Budget. We don’t want the idea of the Ministry of Urban Wellbeing, Housing and Local Government further increase the burden of first time house buyers.
MTUC hope that the Federal Government will introduce home buyers-friendly incentives in coming 2017 Budget. For example, we hope that the GST on house purchases will be abolished while the income tax rebate for the first time buyers will be introduced.