Weekly Industry News

Govt lowers affordable homes floor price to RM95,000

Weekly Industry News

The government has lowered the floor price for affordable homes to RM95,000 with a minimum of 900 sq ft area in the newly launched National Housing Policy (NHP) 2018-2025.

Housing and Local Government Minister Zuraida Kamaruddin said the move to lower the floor price is in tandem with the government’s effort to offer more opportunities for the bottom 40% category (B40) to own properties as outlined in the National Affordable Housing Policy (NAHP).

The NAHP, which is overseen by the National Affordable Housing Council (NAHC) that is chaired by Prime Minister Tun Dr Mahathir Mohamad — aims to build one million affordable houses within 10 years, or about 100,000 a year, as pledged in the Pakatan Harapan election manifesto.

According to Zuraida, in the council meeting attended by the chief of states earlier this month, most states have agreed to develop more than 100,000 affordable homes in the country this year.

She said 54% of the projects would be spearheaded by Housing and Local Government Ministry (KPKT), while the remaining would be shared between state governments and private developers.

Media Title: The Malaysian Reserve

Date: 29 Jan 2019

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