‘Build and sell’ a great idea

26/05/2004 NST

However, the Housing and Local Government Minister seems less than convinced. He cites problems in making this paradigm shift. His negative attitude is disappointing.

Changes of any kind always involve adjustments and adjustments are not always painless. However, we must consider the long-term advantages of these changes.

Build and sell means developers must deliver on quality. They must also be competitive to survive. The consumer will gain both in quality and price. This is contrary to conventional thinking that house prices will go up because developers have to finance their own schemes.

Experience in many countries, including Thailand where "build and sell" is the norm, has shown this is not true.

Build and sell will also reduce the problems that have plagued the industry for decades. Consumers get burnt when developers go belly up. Then there is the problem of overbuilding. And, of course, the problems of poor quality and late delivery.

Whatever the problems, the advantages of "build and sell" far outweigh the pain of change developers have to endure.

YIN EE KIONG
Ipoh