High interest rate to housebuyers is a recipe for future disaster

Penang to ban developers who offer loans

The Penang government said it would not allow property developers who also offer housing loans to buyers to operate in the state, after a minister’s proposal to allow home builders to as as money lenders at an annual interest rate of 18%. The state will also direct local councils Majlis Bandaraya Pulau Pinang (MBPP) and …

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