Weekly Industry News

Govt mulls regulation on resale of affordable homes

Weekly Industry News

PUTRAJAYA is considering a new regulation on the resale of affordable homes to the government as a measure to ensure that the houses are given to only eligible applicants.

Housing and Local Government Minister Zuraida Kamaruddin said the government plans to introduce the rule under the National Affordable Housing Policy (NAHP) to control prices and ownership of the units.

She said owners of affordable homes who want to let go of their units after the minimum holding period of two years may only be allowed to sell them to her ministry.

This came after reports surfaced that affordable home owners were renting out and selling the properties to non-eligible occupants.

The activities have led to complaints that the country’s affordable homes were sold to over-qualified buyers at inflated prices and rented out to immigrants which went against the government policy.

MediaTitle: The Malaysian Reserve

Date: 28 Mar 2019

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