News by Datuk Chang Kim Loong

The Government has heeded the recommendations of the National House Buyers Association (HBA) to close the floodgates and resolve the issue.

Why is this decision so important? And how could this protect the rights of property buyers?

Datuk Chang Kim Loong: In the context of the SMA, the awards and the grounds of awards handed down by the Tribunal can serve as an invaluable source of reference for the public.

Datuk Chang Kim Loong: The National House Buyers Association (HBA) has received numerous complaints where developers had failed to redeem from the onset but instead paid off the redemption sum at the last stages of the schedule of payment.

In a landmark decision on Jan 19, 2021, the Federal Court has delivered its grounds of judgement in respect of the case of PJD Regency Sdn Bhd v Tribunal Tuntutan Pembeli Rumah & Another & 6 Other Appeals. It has finally clarified the legal position as to when time starts to run, in respect of VP of the property.

Datuk Chang Kim Loong: Eventually, it is the purchasers who lose — their houses are taken away; they have to settle their mortgage loans with increasing interests; and they are blacklisted, which means they can never borrow again and never buy houses again!

在一些情况下，特别是购买新开发的项目，邻居是谁根本无从考察，唯有在新居入伙后才能揭晓住在你隔壁的到底是恶邻居还是好邻居。

Datuk Chang Kim Loong: While most of them are genuinely passionate about the wellbeing of their communities, there are unfortunately some bad eggs with personal agendas who take advantage of their positions for self advancements.

Datuk Chang Kim Loong: Inheritance tax is effectively sending the message to civil society not to work so hard or to save money for investments but just to have a happy-go-lucky lifestyle and spend all that we earn as we will be taxed again when we die for any assets that we have accumulated from our years of blood, sweat and tears.

Datuk Chang Kim Loong: Most buyers are so trusting that they fail to recognise that they may be taking on a long lease that disguises itself as a conventional property purchase.