Weekly Industry News

Cagamas ready to support housing loan market

Weekly Industry News

CAGAMAS Bhd anticipates housing loan finance to increase albeit at a moderate pace as the relaunch of the Home Ownership Campaign helps boost the property market.

The national mortgage corporation’s president and CEO Datuk Chung Chee Leong said some first-time homebuyers may adopt a wait-and-see approach amid job security concerns in the current uncertain economic conditions triggered by Covid-19.

“Nevertheless, we expect pent-up demand from those with secured jobs to continue as people may find some properties are being offered at attractive prices. Some developers recently revealed that they recorded a substantial amount of bookings for houses priced RM500,000 and below even during the Movement Control Order period, hence, we believe innovative selling programmes and embracing digitalisation are key to boost demand,” he told The Malaysian Reserve.

Media Title: The Malaysian Reserve

Date: 15 Jun 2020

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