PETALING JAYA: Real Estate Housing Developers' Association Malaysia (Rehda) welcomes the recent proposal by the Government to reduce the housing loan interest rate.

“We foresee that this will translate into an improved economic status for the rakyat as well as the industry and nation for the years to come,” said Datuk Seri FD Iskandar, president of Rehda Malaysia

The Association believes that the timely move will further promote homeownership among the hard-pressed M40 and B40 income groups. However, Rehda highlighted that ease of end-financing is imperative and must come hand in hand in meeting the objective of the move.

“The main obstacle currently faced by buyers, especially the younger generation purchasing for the first time is attaining loan and if correctly addressed, combined with the lower interest rate proposal, more homebuyers would be able to realise their dreams,“ added Datuk Seri Iskandar.

Rehda hopes the Cabinet considers the proposal, and wishes Bank Negara Malaysia to provide support. They are also open to any discussions required to facilitate the approval process.