KUALA LUMPUR: The government currently, has no plan to raise the ceiling price for houses which did not require down payment, from RM220,000 to RM350,000, said Housing and Local Government Minister Datuk Chor Chee Heung.
He said he had proposed the matter to the Cabinet last month but Prime Minister Datuk Seri Najib Tun Razak was concerned that if the ceiling price was increased, it could cause more problems, rather than benefit purchasers in the long run.
“The prime minister felt that if we increase the price to RM350,000, purchasers having salary scheme of that amount (less than RM3,000) may not have enough to repay, and this could lead to further hardship for the purchasers.
“So, it is not a good time to increase the limit. It is still at RM220,000,” he told reporters when asked to comment on the development of the proposal. — Bernama