To harmonise the standard and price tag of affordable housing in Malaysia, the urban wellbeing, housing and local government ministry held two series of discussions with state governments, reported Bernama.
“The result of the discussion will be submitted to the National Housing Council for endorsement before the outcome is announced,” said minister Datuk Abdul Rahman Dahlan.
In regard to a recent study issued by Bank Negara Malaysia (BNM) on the capability of owning a house in Malaysia, the ministry urges developers and housing agencies to use it as a guide when building houses.
The study shows that an affordable house purchased by Malaysians costs RM356,803, with an average monthly repayment of RM1,550. This is lower compared to the affordable residence offered by the developers and property agents, which costs around RM500,000.
Moreover, the study further explains that some citizens only could afford a house around RM50,000 with a monthly payment of RM217. Meanwhile, some could only afford to buy a house at a maximum price of RM265,100, with a monthly payment of RM1,151.
“The government, in collaboration with the National Housing Council and several other committees, always ensure that the industry remains competitive with affordable and comfortable homes,” added Abdul Rahman.
Image: Sourced from Free Malaysia Today
Mangalesri Chandrasekaran, Editor at PropertyGuru, edited this story. To contact her about this or other stories email mangales@propertyguru.com.my
