News & Articles Melaka houses ‘cheapest in Malaysia’ at RM207,600 average price
Melaka houses ‘cheapest in Malaysia’ at RM207,600 average price
19 Feb 2024
MELAKA: Melaka has maintained its status as the state offering the lowest housing prices in Malaysia with an average price of RM207,600 as of the third quarter of 2023 according to a state executive councillor.
The Melaka average price is half the national average of RM458,751, according to the National Property Information Centre.
State housing executive councillor Rais Yasin said the lower prices has led to a remarkable rate of home ownership of 84.5% in Melaka, higher than the national average of 76.5%.
“This achievement is influenced by the state government’s housing policy, which stipulates that every housing development exceeding 10 acres (about 4 hectares) must consist of at least 50% affordable housing.
“The affordable home component covers low-cost homes priced at RM70,000, low medium-cost units (RM120,000), Rumah Impian A units not exceeding RM180,000 and Rumah Impian B homes not exceeding RM250,000,” he said after launching the 2024 Melaka Affordable Housing Expo here today.
He said home ownership in Melaka is expected to rise further to 88% by 2030, while at least 4,191 houses need to be built within a year.
Up to Dec 31 last year, 48,966 affordable homes had been built throughout the state with the cooperation of private developers and the federal government.
He said there were only 551 completed but unsold homes worth RM283.9 million in the state. This is significantly lower than the figures in Selangor, Johor, and Penang.
He said most of the unsold homes were condominium and apartment units priced above RM300,000 per unit.
The Melaka average price is half the national average of RM458,751, according to the National Property Information Centre.
State housing executive councillor Rais Yasin said the lower prices has led to a remarkable rate of home ownership of 84.5% in Melaka, higher than the national average of 76.5%.
“This achievement is influenced by the state government’s housing policy, which stipulates that every housing development exceeding 10 acres (about 4 hectares) must consist of at least 50% affordable housing.
“The affordable home component covers low-cost homes priced at RM70,000, low medium-cost units (RM120,000), Rumah Impian A units not exceeding RM180,000 and Rumah Impian B homes not exceeding RM250,000,” he said after launching the 2024 Melaka Affordable Housing Expo here today.
He said home ownership in Melaka is expected to rise further to 88% by 2030, while at least 4,191 houses need to be built within a year.
Up to Dec 31 last year, 48,966 affordable homes had been built throughout the state with the cooperation of private developers and the federal government.
He said there were only 551 completed but unsold homes worth RM283.9 million in the state. This is significantly lower than the figures in Selangor, Johor, and Penang.
He said most of the unsold homes were condominium and apartment units priced above RM300,000 per unit.
Source: freemalaysiatoday.com
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