Decent affordable housing is fundamental to the health and well-being of people, and to the smooth functioning of economies. Yet around the world, in developing and advanced economies alike, cities are struggling to meet that need.
In line with the country’s commitment to provide adequate and affordable housing for all income levels, particularly for the lower-income group, Bank Negara governor Datuk Nor Shamsiah Mohd Yunus stressed that affordable housing is a shared responsibility and that the government is looking at how infrastructure providers could play their part in reducing the cost of houses.
“There are three components which make up the biggest proportion of the cost, namely land, construction and infrastructure, ” she said in an exclusive interview with Bernama.
“There is a greater recognition now on the need to reduce costs. For land costs, the government is collaborating with the state government on mechanisms to reduce costs; and for construction costs – that is where the government is looking to leverage technology such as the IBS (Industrialised Building System) to bring down the cost, ” she pointed out.
