GEORGE TOWN: Penang-based developers are facing problems in obtaining permits from the Housing and Local Government Ministry that will enable them to advertise and sell their products.
Real Estate & Housing Developers’ Association (Rehda, Penang) chairman Datuk Jerry Chan said that Penang-based developers had to wait two to three months for the permits.
“The ministry has been delaying the issuance of the advertising permits to Penang-based developers since August. It used to take only two weeks to issue the permits,” he told a press conference.
Chan added that the delay would also slow down the supply of properties in the local market. He pointed out that developers in other states did not face such problems.
Given the high rejection rate of housing loans, there would be a decline of about 30% in property transactions in 2015, he said.
He also said the RM120,000 to RM150,000 per unit contribution which developers had to pay to the state government in lieu of not building low-cost (LC) and low-medium cost (LMC) housing was too high.
“Previously, the in lieu payment for not building LC and LMC housing was only RM35,000.”
~ By THE STAR
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