The government’s plan to build one million units of affordable homes within the next 10 years can be achieved albeit being a tall order, CBRE|WTW managing director Foo Gee Jen (pic) said, citing scarcity of land and private-sector limitations as main concerns.
“While there’s still a lot of land bank in many states, there is a scarcity here [in the Klang Valley]. It would be good if the state governments can offer their land [to meet this target]. If not, it would be a tall order for the government to deliver the target,” Foo told a press briefing on the CBRE|WTW 2019 Asia Pacific Real Estate Market Outlook Report yesterday.
The housing and local government ministry recently announced that it intends to build one million units of affordable homes within the next 10 years (or two election terms) as per the Pakatan Harapan’s manifesto promise to enable more people, especially low-income earners, to be homeowners. To meet this goal, it aims to build 100,000 units a year beginning this year.
