Youth and Sports (KBS) Minister Syed Saddiq Syed Abdul Rahman called for more affordable homes around public transport nodes.
This comes as properties around public transport links such as Mass Rapid Transit (MRT) usually carry higher prices – making them beyond the reach of the younger generation.
Middle-class young working adults are, thus, forced to take long travels to work everyday, resulting to increased daily expenses.
He noted that this is contrary to the idea of public transport increasing mobility rates and reducing public transport costs, reported New Straits Times.
“We will discuss with the related parties including the Ministry of Housing and Local Government (KPKT) to review this matter…What is happening now is the location of young people is not strategic and far away from their work location. Should there be such public transport links, it will help to facilitate young people who earn at least RM4,000 (per month),” he said following the launch of the Kunci Rumah Pertamaku programme.
“When they are living close to public transportation access, they can use and save on transportation costs. This is what we have to review.”
Syed Saddiq revealed that the ministry is in talks with KPKT as well as property developers for joint development projects around the assets of KBS, in order that such assets be fully utilised by the rakyat.
“If there are real estate developments around KBS’ assets, this will definitely benefit the people. They can use the existing facilities,” he said.
“KBS will also work with the Ministry of Finance and Ministry of Education for financial awareness programmes for young people.”
Meanwhile, FAR Capital’s the Kunci Rumah Pertamaku programme would enable middle to low income youths get up the property ladder.
FAR Capital CEO Faizul Ridzuan said the company targets 1,000 participants, from those interested in acquiring a home but is unaware of the process and tips on securing a loan as well as finding the right location.
Out of the 1,000 participants, 50 potential homebuyers would be given full assistance by the company.
“Within 12 months or less, we will make sure and help them to buy a house. We will identify their problems and help them get loans, among others,” he said.
“This is because most youths who want to buy a house have no understanding of residential ownership as well as a strong financial situation that causes their application to be rejected by the bank.”
Image sourced from NST Online
This article was edited by the editorial team of PropertyGuru. To contact them about this or other stories email editorialteam@propertyguru.com.my
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