KUALA LUMPUR, Aug 8 — A national affordable housing trust could help ensure affordable houses are built where the demand is, said Real Estate and Housing Developers’ Association (Rehda) president Datuk Ho Hon Sang.
Ho said Rehda proposed establishing the trust as, while developers are committed to providing affordable housing, they see a mismatch between supply and demand.
According to the National Property Information Centre, 28.6 per cent of completed but unsold residential properties in Malaysia in the first quarter of 2024 were priced below RM300,000.
“(The figure) highlights the mismatch of unsold affordable housing units. The focus should be on the right location, as some areas require more affordable housing units, while others require less due to the weak demand in those areas. There should be a more targeted solution rather than a one-shoe-fits-all approach to identifying the needs,” he said in a statement today.
Ho said the committee of the trust could be a combination of representatives from the Housing and Local Government Ministry, state authorities, and Rehda, while developers can contribute a portion of their gross development value to the trust.
The committee can observe and analyse which parts of the city or state have high demand for affordable housing, so houses can be built strategically, instead of providing a flat quota that is not market-driven, which could result in some areas being underprovided and others overprovided, he said.
Rehda also called on industry players to do their part to assist buyers in affording homes, such as banks offering subsidised loans for all affordable housing.
“Other incentives, such as discounts on premium charges, development charges, and Improvement Service Funds, will go a long way in making housing more affordable for the people,” he said.
Ho also said Rehda fully supports the prime minister’s Madani concept for housing and welcomes all efforts by the government to ensure housing is within reach for all, including the B40 and M40 groups.
He assured that Rehda will continue to encourage its members to fulfil their role in nation-building by providing quality, affordable homes in a timely and sustainable manner.
On Tuesday, Prime Minister Datuk Seri Anwar Ibrahim instructed the Federal Territories Department and the Kuala Lumpur City Hall to incorporate Madani housing blocks in every new residential project.
Anwar said the requirement is crucial for the approval of new housing developments, ensuring opportunities for people in low-income groups to become homeowners.
— Bernama
