Homebuyers can look forward to three categories of affordable homes to be developed under the National Housing Policy by next month.
Housing and Local Government Minister Zuraida Kamaruddin said the three categories will be comprised by homes costing RM150,000 and below, RM150,000 to RM300,000 and RM300,000 to RM500,000, reported Bernama.
She revealed that housing projects under the five housing entities – 1Malaysia Civil Servants Housing Programme (PPA1M), Perbadanan PR1MA Malaysia (PR1MA), Syarikat Perumahan Negara (SPNB), the Hardcore Poor Housing Programme (PPRT) and UDA Holdings Bhd would now be streamlined in a single programme.
“This means that the housing entities will use the same design, same pricing and the same management,” she said following the launch of the Malaysia Property Expo (Mapex 2018).
Zuraida noted that the government has undertaken various efforts to narrow the price gap between affordable homes and high-end houses via discussions with Bank Negara Malaysia.
“We are also looking at various options for social housing requirements in town areas, particularly the rent-to-own (RTO) scheme where those renting will be given time to plan and buy their house after five years (of renting).”
The built-and-sell scheme, however, would not be part of her ministry’s agenda for the time being.
Zuraida also remains optimistic of the property industry’s outlook considering the ongoing efforts and policies aimed at helping people get up the property ladder.
Meanwhile, Real Estate Housing Developers’ Association Malaysia (REHDA) immediate past president Datuk Seri FD Iskandar Mohamed Mansor hoped no new taxes, compliance and development costs would be introduced by the government on the housing industry, which is already suffering from very tight margins.
“It is a volume game, not a margin game to us. Our (developer’s) margins are thinner, at about 12 percent-16 percent now compared with 35 percent-40 percent some 30 years ago.”
Image sourced from The Star
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