LBS Bina proposes key measures to encourage homeownership

Pavither October 7, 2020

LBS Bina proposes key measures to encourage homeownership

Given the current market environment, LBS Bina Group Berhad has urged the government to extend the Home Ownership Campaign (HOC) as well as the special end-financing scheme for first-time homebuyers. 

In its wish list for National Budget 2021, Group Managing Director Tan Sri Lim Hock San hopes the government would provide town developers with incentives for better infrastructure planning, and additional benefits to encourage the wider use of Industrialised Building System (IBS).

He noted that LBS Bina proposed these key measures, which are aimed to encourage homeownership as well as uplift the property market.

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“Property affordability remains a key challenge for the majority of Malaysians, especially first-time house buyers. We suggest to the government to extend the HOC, as incentives under this campaign will significantly reduce the burden of homebuyers,” he said as quoted by NST.

To help more homebuyers secure housing loans, LBS Bina called on the government to roll-out a special low-interest rate for housing loans of first-time homebuyers, particularly the younger generation.

Lim believes that the government should also widen the incentives to developers who chose to adopt the IBS technology over traditional construction system.

Embracing modern technology, the IBS system can help reduce reliance on unskilled foreign workers as well as building costs, while increasing productivity – eventually bringing house prices down, he explained.

“We hope the government will grant more incentives to township developers, as it will help our nation in greater city planning. With the right strategies and government supporting policies in place, it will definitely boost the property market and contribute to stimulating the country’s economic growth,” added Lim.

 

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