Here's Why Malaysians Can't Afford a House
- Regulator sets up housing website to defend finance complaints
- Study found homes ‘seriously unaffordable’ by global standards
Central Bank Tells Malaysians Homes not Affordable
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Malaysia’s central bank has a response to those saying it needs to do more to spur home loans: houses simply aren’t affordable.
Bank Negara Malaysia has created a website packed with data aimed at debunking the “myth” that access to financing was deterring home ownership, showing that loan approvals for key cities are near 70 percent or higher. The central bank has resisted calls to loosen mortgage lending, instead saying the property industry should boost efforts to cut costs and accelerate supply.