PETALING JAYA: Plans to resolve affordability issues among first-time house buyers using a crowdfunding platform as an alternative source of financing has been greeted with curiosity and doubts.

The Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector Malaysia (PEPS) said the idea is innovative – a blend of new technology and financing. But some initial and pertinent questions have popped up.

“If buyers have problems paying a 10% down payment, it would be a challenge for them to fork out 20% of the purchase price.

“So will he be able to get a loan for this 20%?” asked PEPS head of current affairs, research and communications sub-committee Datuk Siders Sittampalam.

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