Weekly Industry News

`Govt not pandering to developers`

Weekly Industry News

The government is not seen as pandering to developers but is committed to ensuring a sufficient supply of affordable units on one hand, and to rebalance the residential overhang on the other, Socio-Economic Research Centre (SERC) executive director Lee Heng Guie said.

Lee said in an email the Pakatan Harapan government was not taking the populist stand when it comes to housing.

“It is (of) utmost importance to help ensure a stable property sector through some policy intervention.

“Protracted and sharp correction in property prices can adversely affect consumer confidence confidence, construction and leads to lower economic growth, ” he said.

Lee said the government sees the plight of those unable to buy a house due to a number of factors. It also has taken cognisance of the large overhang – completed unsold housing – valued at billions of ringgit.

Media Title:  The Star

Date: 13 Nov, 2019

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