Weekly Industry News

‘Controlling’ price of affordable homes

Weekly Industry News

The Housing and Local Government Ministry will ensure that in the future, the prices of affordable homes will be based on factors such as locality and the area’s average household income.

Its minister Zuraida Kamaruddin said the government is sensitive to the needs of those who cannot afford affordable homes, which are priced beyond their means.

She said the government has drawn up the National Affordable Homes Policy (DRMM), which is a continuation of the National Housing Policy 2018 – 2025 earlier this year, to ensure that affordable homes are reasonably priced.

“The DRMM aims to ensure that the prices of affordable homes are no more than three times the median of the particular area. The ministry will gauge this based on three times the average household income of the area.

“The DRMM will control the prices of affordable homes by way of locality and the conditions of the local community. For example, the prices of houses in Kuala Lumpur will definitely be different from Kuala Terengganu’s. As it is, house prices also vary from district to district,” she told reporters after visiting the KT Sentral site here today.

Media Title:  New Straits Times

Date: 31 Oct, 2019

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