Home builders must strictly follow the Sales and Purchase Agreement (SPA) with buyers, including the required specification and the length of the construction period, according to the Sarawak Housing and Real Estate Developers’ Association’s (SHEDA), reported the Borneo Post.
“I urge developers to be more courteous in delivering their housing projects on time as well as build according to the specs as agreed,” said Sheda President Joseph Wong, adding that the quality of the finished product should conform with the regulated standard.
He noted that consumers nowadays are more knowledgeable about their rights as a homebuyer, given the efforts of Sarawak’s Housing Claims Tribunal.
“Therefore, developers should comply [with] what has been stated in the SPA,” said Wong after the official unveiling of the booths for the forthcoming SHEDA Property Expo 2017.
Meanwhile, the expo’s Organising Chairman SR Gary Kho Thong How revealed that home prices in Sarawak are significantly higher than the average household income, while the wages of families are low, based on a study by Institute Rakyat.
Thus, property developers should build houses that are within the means of buyers. Otherwise, they would have difficulties selling their residential units, noted Kho, who is also a Senior Manager of CMS Property Development Sdn Bhd.
In line with this, he advises home builders to take advantage of the SHEDA Property Expo to share the details of their upcoming projects and get feedback from potential clients. This annual showcase is also a good time to boost the awareness of the public regarding their brands.
Separately, SHEDA held a forum last Thursday, with the aim of informing its members about important issues in the real estate sector, including housing development regulations, SHEDA’s e-library and the organisation’s proposed low-cost housing projects in the state.
According to Wong, he hopes to get the results of the proposal from the state authorities soon. If they are approved, the industry body will also make a commitment to build more affordable homes for middle-income families.
Image sourced from Sheda
Radin Ghazali, Content Writer at PropertyGuru, edited this story. To contact her about this or other stories email email@example.com