The Penang state government gave its assurance that there will be no increase in the ceiling prices of different types of government-subsidised homes there, reported The Malaysian Insight.
“Many people still cannot afford to pay high prices for housing, so we are not going to increase the prices. Developers had asked for a review many times, but the state has no such plans for now,” said State Executive Councillor for Housing Jagdeep Singh Deo.
Since 2014, the state government have imposed maximum prices for three types of housing. Low-cost dwellings are priced up to RM42,000, while low-medium-cost (LMC) units must only sell for up to RM72,500. Similarly, the prices of affordable homes in the mainland and on Penang Island are capped at RM250,000 and RM400,000 respectively.
Moreover, he is urging the federal government to build more housing projects in the state, given that Penang contributes the largest amount of income tax in Malaysia.
More: Take A Look At Penang Properties
“We have paid over RM6.5 billion in taxes to the federal government. I think since the state and federal authorities are now in sync, it is time for us to make our rightful claim from Putrajaya,” Jagdeep noted.
“The previous BN government claimed it was in the midst of building 16,569 PR1MA affordable housing units. But there is not even one unit today, despite approvals given two years ago.”
Meanwhile, Ideal Property Group Executive Chairman Tan Sri Alex Ooi revealed that a former PR1MA housing project in Kampung Kastam in Gelugor, Penang Island will be launched in 2H 2018.
He said they have been appointed to take over the 8-acre development, which was formerly occupied by the quarters for the Customs and Immigration Department.
“It will have 905 affordable units and 257 LMC units. We expect the project to be finished in 2021.”
Its amenities include a community hall, meeting room, mosque and a futsal court. The LMC units will have built-up area of at least 650 sq ft, while the affordable home will have a minimum space of 850 sq ft.
Image sourced from Free Malaysia Today
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