News & Articles Government plans to streamline quota, prices of affordable homes
Government plans to streamline quota, prices of affordable homes
2 Nov 2016
The government plans to streamline the quota and prices of affordable homes throughout the country, said the Deputy Minister of Urban Wellbeing, Housing and Local Government, Datuk Halimah Mohamed Sadique.
She said her ministry was preparing a working paper for this purpose and would be presenting it to the National Housing Council.
"We want to streamline the quota and house prices determined by state governments through the State Housing Policy," she told the media here after officiating the one-day, ""The Malaysian Property Market: Opportunities Amidst Uncertainties", seminar.
"At present, each state has different quotas and there are some who take this matter lightly.
"So, we will table a working paper to streamline both based on the house value proposed by the state governments under the construction quota determined for affordable homes," she added.
At present, the housing quota for affordable homes is 40 per cent and 50 per cent respectively in Johor and Negeri Sembilan, with the other states having their own target.
Low cost housing projects also come under the affordable homes quota.
Halimah said the Menteris Besar, Chief Ministers are aware of the situation and have also suggested that the quota and prices be streamlined.
In another development, she said the target to construct one million affordable homes by 2018 has almost been reached, with the combined total either under construction or having been completed, standing at 723,000.
Meanwhile, the seminar was organised by Rahim & Co Research Sdn Bhd, a subsidiary of Rahim & Co International Sdn Bhd, to provide a snapshot of Malaysia's property market as well as challenges faced by the industry.
She said her ministry was preparing a working paper for this purpose and would be presenting it to the National Housing Council.
"We want to streamline the quota and house prices determined by state governments through the State Housing Policy," she told the media here after officiating the one-day, ""The Malaysian Property Market: Opportunities Amidst Uncertainties", seminar.
"At present, each state has different quotas and there are some who take this matter lightly.
"So, we will table a working paper to streamline both based on the house value proposed by the state governments under the construction quota determined for affordable homes," she added.
At present, the housing quota for affordable homes is 40 per cent and 50 per cent respectively in Johor and Negeri Sembilan, with the other states having their own target.
Low cost housing projects also come under the affordable homes quota.
Halimah said the Menteris Besar, Chief Ministers are aware of the situation and have also suggested that the quota and prices be streamlined.
In another development, she said the target to construct one million affordable homes by 2018 has almost been reached, with the combined total either under construction or having been completed, standing at 723,000.
Meanwhile, the seminar was organised by Rahim & Co Research Sdn Bhd, a subsidiary of Rahim & Co International Sdn Bhd, to provide a snapshot of Malaysia's property market as well as challenges faced by the industry.
Source: Bernama.com
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