Well, you might end up buying that dream house of yours in the very near future as the government is already having talks with the banks to lower the interest rates for housing loans.
The government has made a proposal to Bank Negara to come up with a possibility of reducing the current housing loan interest rate, which currently stands at 4.65%.
Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi chaired the meeting and acknowledged that the current interest rate made it harder for buyers to secure loans.
That reason itself probably contributed to 65.17 per cent of houses (about 13,000 units) with a price range of between RM250,000 and RM500,000 that were left unsold in 2017.
He also said that one of the things that contribute to the high cost of living is housing.
“We want to reduce the people's financial burden (to own a house),” Zahid told the New Straits Times.
If this could be done in the future, more people would be able to afford their own house and also help sell off all the unsold houses that are currently plaguing the property market in Malaysia.
Well, let’s hope that something will come out of this soon because we’re one of those people who are interested in buying a house but the high interest rate is sort of hindering us from doing so. *cries looking at bank account*