‘45% of civil servants still unable to own a house’

(Bernama) – Forty-five per cent of the 1.5 million civil servants still aren’t able to own a house due to the price factor, said the Congress of Unions of Employees in the Public and Civil Services.

Cuepacs president Datuk Omar Osman said its recent study showed that the increasing price of houses was the main obstacle for some 650,000 of its members.

He said that, generally, civil servants who were still unable to buy a house were those in the support group and earning low income.

“Those above 40 years old, who were on a higher grade and had served more than 20 years, were the fortunate ones,” he said.

“This 45% group has to continue renting or staying in quarters,” he said yesterday.

Omar was also concerned over the implications that would arise from this situation if not tackled properly.

“One is that if they buy a house at a later age, it will mean that they will take a longer time to settle the loan,” he pointed out.

“It means that they will use up all of their savings and pension, which is supposed to be for their old age, to pay back the loan,” Omar said.

“Their life after retirement will continue to be hampered by debts.”