Concerns continue to be raised by real estate agents regarding the lack of affordable housing.

Director of Bayshore Real estate Arif Khan believes there are lots of housing issues and more units need to be built to overcome the shortage which is a contributing factor to the house pricing.

“We need to have more land and housing package developers so the more houses can be developed. This will be in line with what the government’s policies have been towards promoting affordability.”

Meanwhile, the Association of Banks has clarified that under the government’s initiative banks provide rates as low as 4.25 per cent to support the housing sector.

“For young people, there is a government’s initiative to assist young people to own a house. So in those sectors, banks provide rates as low as 4.25 per cent fixed for five years.”

Association chair Rakesh Ram commercial banks also allow roll-over of fixed rates on a case by case basis after the 12 months.