Govt in talks with Japan for low interest housing loan: official

The Union Government is cooperating with the Japanese government to provide housing loan with low interest rates, said Nilar Kyaw, the Regional Minister for electricity, industry and transportation during a regional parliament session held on February 25.

She replied to a question raised by MP Kyaw Tun of No.2 Lanmadaw Constituency about when the buyers that had made down payment for low cost and affordable housings, are allowed to stay and whether the government has plans to repair the damages in the low cost and affordable housings.

“Although the government already sold the apartments to people who made full payment at the time of purchase, it is under negotiation with the Japanese government to reduce the interest rate from 13 per cent to 8.5 per cent for the people who want to buy the apartments under mortgaged loan,” said the minister.

The loans will be provided within a month or two, she continued.

Sales Management Committee for Public Housings in Yangon Region is supervising the sale of 703 apartments from low cost housing projects and 161 apartments from affordable housing projects in Yuzana low cost housing and Kanaung low cost housing in Dagon Seikkan Township, Shwe Linban low cost housing in Hlaingthayar Township and Shwe Paukkan housing in North Oakkalapa Township to 722 out of 6,027 people, who are qualified to meet the rules and regulations to buy the apartments, in the first batch in July 2018, she said.

Source: Eleven Myanmar

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