Buying a house costs a hefty sum, not to mention this day and age where owning one can burn a deep hole into our pocket. That is why as Malaysians, we often do our research and look at a developers’ reputation before buying a property (and even then we are sometimes met with disappointments).
Thankfully for us, the Ministry of Housing and Local Government would keep an updated list of blacklisted developers in Malaysia so that we as buyers can be wary and safeguard ourselves before throwing in hundreds and thousands of Ringgit into a property.
So, go through this list prior to buying and share it to your friends and family too so they can be careful!
*Note: The list dates as early as 1997, hence we’ve curated only developers from 2016 onwards
1. List for Abandoned Private Housing Projects
2. Unlicensed developers
Yes, it’s surprising how many developers there are that are listed in the website for consumers to be wary of.
In fact, just last year, 120 poor Malaysians had to still make monthly payments after the developer abandoned the housing project. This is the reality of all abandoned projects as people would have taken out loans. So, not only were their savings gone, their hopes and dream of owning a home vanished.
Don’t become the next victim and make sure you share this article to all your loved ones.
This post first appeared on WORLD OF BUZZ.
