The Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector Malaysia (PEPS) has recommended that the government establish a national housing corporation on affordable housing.
The corporation’s job would be to plan, coordinate and implement blueprint and proposal on affordable housing throughout the country.
PEPS past president James Wong said this is to reduce the cost of land and the construction bill in order to resolve the housing affordability issue, echoing Bank Negara Malaysia’s (BNM) statement last week that houses in Malaysia are considered “seriously unaffordable” by international standards.
The unaffordability according to him was primarily due to the household income not keeping pace with the rising house prices over the years.
Media Title: Borneo Post (Kuching)
Date: 1 Nov, 2019