In George Town, Penang Rehda chairman Datuk Toh Chin Leong said banks needed to ease up on the conditions for housing loan approvals in line with the government’s efforts for the property sector to recover from the Covid-19 fallout. He said while the government’s short-term stimulus measures for the property sector would have a definite positive impact, the approval of housing loans remained a challenge. He lauded the removal of the 70% loan limit for purchases of a third property and above RM600,000 and urged banks to do the same. So we hope banks will take the cue from the government and encourage people to own homes.”Yesterday, Prime Minister Tan Sri Muhyiddin Yassin announced three measures to boost the property sector and reintroduce the HOC. In welcoming the move, Raine and Horne Malaysia director Michael Geh said these measures should have a positive impact on the property market.

Source: thestar June 05, 2020 23:25 UTC