The Better Malaysia Foundation’s (BMF) proposal on affordable housing for low-income earners, particularly those from the B40 group, has been submitted to the government earlier this month.
According to BMF founder Tan Sri Vincent Tan, the government is now studying the proposal, reported Bernama.
“(The proposal) was sent to the Government. So I leave it to the Government,” he said, without revealing which Ministry in the government the BMF submitted the proposal to.
Tan was positive of the government accepting the proposal even as he is aware that a lot of technical matters has to be sorted out.
He shared that the proposal included recommendations for the government to guarantee housing loans of the B40 group, longer housing loan tenure of up to 60 years and 100% financing, among others.
He believes many housing developers will build affordable houses if banks agree to extend loans to the B40 group, which will be good for Malaysia, said Tan.
The BMF has designed a show unit of five-bedroom, four-bathroom house, measuring 900 sq ft, for the B40 group.
A new social enterprise has recently been launched by the BMF to help the government address the homeownership aspirations of the B40 households.
The social enterprise will facilitate the construction of homes with a low monthly cost of ownership and which are carefully designed for families to prosper and grow.