Hornbill Unleashed

March 31, 2017

Rent longer to avoid long-term property debt, Malaysians told

Filed under: Politics — Hornbill Unleashed @ 8:01 AM

Finance Minister II Datuk Seri Johari Abdul Ghani says in many other countries, people prefer to rent for a longer amount of time than Malaysians. — Bernama picMalaysians should change their mindset when it comes to buying properties at a young age that results in a huge long-term debt, Finance Minister II Datuk Seri Johari Abdul Ghani said today.

Speaking at a dialogue session for the Transformasi Nasional (TN50) vision, Johari said that in many other countries, people prefer to rent for a longer amount of time and only make a long-term commitment when they have enough cash.

“It is our culture — we don’t believe in renting. We have to change our mindset. When you go to the UK — they just rent until they have the money to make a long term commitment,” Johari said.

Johari said that more affordable houses should be built for rent, and not for purchase.

Johari noted that many Malaysians take on hire-purchase loans and mortgages at a young age, mostly when they start working.

“This is why we are investing in public transport. We need this so that the next generation, when they go to work, they don’t have to buy a car anymore,” he said.

The TN50 dialogues are a series of events spearheaded by the Youth and Sports Ministry to collect feedback from Malaysians to formulate a vision for Malaysia ahead of the year 2050.


Source : RAM ANAND@ Malay Mail Online


 

Advertisements

Leave a Comment »

No comments yet.

RSS feed for comments on this post. TrackBack URI

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Blog at WordPress.com.

%d bloggers like this: