In a bid to help more people get up the property ladder, the Housing and Local Government Ministry eyes to build one million affordable homes in 10 years, reported Bernama.
Housing and Local Government Minister Zuraida Kamaruddin revealed plans to construct 100,000 homes per year starting this year, with all housing projects coordinated under Syarikat Perumahan Negara Bhd (SPNB).
“The 100,000 affordable units are for all, especially those in the B40 group,” she said after opening the Penang Property Summit.
Chief Minister Chow Kon Yeow and Datuk Soam Heng Choon, president of the Real Estate and Housing Developers’ Association Malaysia were also present at the summit.
“The location and number of houses for each state will be determined soon after we have discussed the matter with the state governments,” added Zuraida.
The ministry is also in talks with several financial institutions for initiatives aimed at making it easier for families in the B40 group own a house.
“Those in the low-income group cannot afford to pay monthly instalments so we are trying to find a solution to this problem,” said Zuraida.
“The ministry is also discussing with Bank Negara and housing investors that agree to come forward to provide financing schemes.”
The plan to build 100,000 homes per year is not expected to add to the existing oversupply of unsold houses, said Zuraida.
She explained that the unsold homes would be sold via expositions on home ownership which will be held starting this month.
Image source: The Star
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