Category: DIBS (3)

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The government is open to lifting the ban on the Developer Interest Bearing Scheme (DIBS) in the housing market ifthere are compelling reasons, according to the Urban Wellbeing, Housing and Local Government Ministry.

“There are some suggestions made by the industry, we will look into it. There are pros and cons, there’s no hard and fast rule on this. If it is not abused, it’s a tool for everybody to sell their houses and to make it more affordable for the people,” said its Minister Datuk Abdul Rahman Dahlan.

The housing ministry will look into this on case-by-case basis, he told the media at the 17th National Housing & Property Summit held yesterday.

“If there are some indicators that DIBS can reintroduced we have no problem with it but the most important thing is we must be flexible and nimble,” he added.

But Chang Kim Loong, Secretary-general of the National House Buyers Association, stands firm on his belief that DIBS should be permanently banned as it promotes speculation.

“In the event of an economic downturn, banks saddled with too much DIBS end-financing could collapse as the losses from such DIBS end-financing will erode the banks’ capital,” he added.

On the other hand, MKH Bhd’s Group Managing Director Tan Sri Eddy Chen is hopeful that DIBS will be reintroduced but with limitations to prevent abuses.

Notably, Prime Minister Najib outlawed DIBS during his Budget 2014 announcement. However, some property players suggested that first-time home buyers should be allowed to participate in this scheme.

(吉隆坡19日讯)国家银行进一步展开打房行动,宣布必须以“净售价/实销价”(net selling price)取代“大价”(Gross Selling Price)来决定贷款对屋价比率,分析员对此深感意外,预期产业市场将再受冲击,明年产业价格虽不致于大跌,但交易量料将下滑。
 
分析员指出,新措施将使发展商提供的所有降低购屋者首期款的奖掖优惠完全失效。
 
继2014年财政预算案中公布数项抑制产业市场投机活动的措施之后,国行在11月15日发出“促进产业市场可持续性的措施”之通知文件,整合早前在2010年和2011年发出的有关贷款对屋价(LTV,loanto-value)比率的产业贷款限制指南和最新的发展商利息承担计划(DIBS)。
 
安联研究指出,发展商大致上对禁止DIBS的措施无动于衷,并声称将以其它形式的奖掖来取代DIBS。但是,国行在新的通知文件中规定,银行需用“净售价”(买卖合约中的价格减去所有奖掖)以决定所有类型产业融资的贷款对屋价比率,这将使所有购屋者须缴付更高的头期款,从而影响其购屋能力。
 
“我们相信产业市场所受到的负面冲击将比最初预期来得严重,相信房屋交易量将在2014年下跌。”
 
该行认为,虽然产业价格大致可维持,但一些依赖DIBS和其它奖掖计划的产业,将必须注明其“真实价值”。
 
一些产业买家或发展商也可能赶在2014年1月1日之前锁定其DIBS,在11月15日之前获得当局批准的产业计划,可继续提供DIBS直至今年结束。但仍未获得批准的产业,将即时禁止提供DIBS。
 
明年贷款成长或检讨
随着国行新措施出炉,分析员将检讨明年银行贷款成长预测。
 
安联研究表示,国行促进产业市场可持续性的新措施比之前预期来得严苛,虽然目前仍难以评估新措施对银行的冲击,但由于此条例是针对有产业融资,包括首次购屋者,意味购屋者的财务负担能力将受影响,这将令产业贷款成长走低。
 
该行原本预期明年贷款成长9%,主要因政府持续落实经济转型计划,令商业贷款强劲成长,从而填补房贷适中成长的空缺,惟该行如今将检讨此预测。
 
国行最新的政策显示当局决心抑制家庭债务的成长,此新措施再加上国行可能在2014年升息,联邦政府紧缩财政和补贴合理化计划,或拉低零售领域的贷款成长动力、令贷款成本暂时升高以及打击银行股的投资情绪。
 
该行目前保持增持银行股评级,将在第三季业绩季节期间向银行管理层厘清有关冲击之后再作检讨。

 

 

Net Selling Price to Loan
 
国行“促进房产市场永续措施”通告要点
●已拥有两个未偿还房屋贷款的个人,第三个房贷的最高上限(LTV)为70%。
●已拥有两个未偿还房屋贷款的非个人,第三个房贷的最高上限为60%。
●在计算个人的房贷上限方面,定期房贷保险(MRTA)的融资或可以不包含在内,但其他如律师费、印花税等成本的融资,则必须包含在内。
●在计算房贷上限方面,房地产价值必须是净估值,不可纳入所有价格折扣、调整、回扣或任何来自发展商且会扭曲房地产实质价值的优惠。
●对住宅和非住宅房地产的购买,加强限制“利息资本化”计划(Interest Capitalisation Scheme)的批准,包括“发展商承担利息计划”(DIBS)。
 
来源:星洲日报

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DIBS (Developer Interest Bearing Scheme) is a mean that the developer of the project will bear the interest charge by bank during the whole construction period, buyer no need to do any installment until the construction complete.

 

This is a very common marketing strategy that use by developer to market their new launch project nowadays. This is something good to the purchaser to have a better cash flow while the property you bought is still under construction.

 

Make it simpler
You purchase your property for RM 300,000.00. You pay Developer A a minimum of RM 15,000.00 (as down payment of 5%, sometimes this can be 10% or more depending on your loan) and you borrow from a bank for the remaining RM 285,000.00. You opt for interest only loan package from the bank (that means, you only pay the interests but not the principal of the loan during the construction period).

Under DIBS, Developer A will pay the monthly interests until completion of the property. In other words you don’t have to pay anything to the bank until construction completes. You only start paying the bank instalments after completion of the property. So, you only pay RM 15,000.00 and you can secure the property during the construction period (2 years for example) without paying a single cent.

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