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Rehda: Provide more access to financing for buyers

23 Dec 2021

PETALING JAYA: The Real Estate and Housing Developers’ Association Malaysia (Rehda) and Rehda Institute are hoping that banks and financial institutions would expand their step-up financing and other alternative financing to improve home ownership for the people in the country.

President Datuk Soam Heng Choon (pic) said the government should also accelerate the rent-to-own scheme and other initiatives for the people as announced in Budget 2022 and the 12th Malaysia Plan.“As the economy is recovering, we also recognised that Covid-19 has impacted the people differently, especially in terms of their access to financing. Most financial institutions are still risk-averse and too stringent in their assessment criteria to the detriment of prospective house buyers. We are also hopeful that government would extend the home ownership campaign to support sales and marketing activities in the property market.

“The sales and marketing activities are currently facing several challenges due to the soft market sentiment and pressure from external market forces,” he said in a joint press conference here yesterday in conjunction with the preliminary findings by Rehda Institute on the marketing and sales research report for the property industry.
 

According to the recent Rehda property industry survey, 88% of the respondents continued to face end-financing issues in the first half of the year.

 The top three factors were namely ineligibility due to the buyers’ income, being offered a lower margin of financing, and inadequate financial documentation.

Meanwhile, Soam said the marketing and sales activities in the property sector were also facing difficulties in reaching out to their target market, especially the small and medium-sized developers due to the very slow or lack of digital technology adoption.

“To upskill and improve the digital marketing capability, Rehda Institute will look into developing a suitable digital marketing transformation initiative through a certification programme in 2022. This will be done with several partners including universities to assist the property developers and the sales and marketing ecosystem towards digitalisation,” he said.

Rehda hoped that the government and agencies would provide more incentives for digitalisation initiatives for the small and medium-sized developers. — Bernama

https://www.thestar.com.my/business/business-news/2021/12/17/rehda-provide-more-access-to-financing-for-buyers

  • Friday, 17 Dec 2021

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