Gov't starts special meeting on low-cost housing

The federal government is totally dedicated to provide comfortable 

and low-cost housing to the citizens of Malaysia, especially low- 

and middle-income earners, according to  Second Finance Minister 

Datuk Seri Ahmad Husni Hanadzlah.






He noted that the rapid rise in home prices, particularly in cities, 

have made it very difficult for low-and middle-income households 

to buy their own house. “Hence, the provision of low-cost houses 

has been a priority in the five-year plans and the annual budget.”



As such, the government's Budget 2014 Focus Group Meeting on 

Providing Greater Access to Home Ownership aims to consult key 

stakeholders on the issue of low-cost residential properties. 

Resource person include representatives from the industry 

organisations, private sector and government agencies, he said at 

the opening remarks for the meeting.



Due to their vital inputs, the government looks forward to listen to 

them, explained Ahmad Husni, adding that the views and 

suggestions will be used for the 2014 Budget which is expected to 

be tabled by Prime Minister Datuk Seri Najib Tun Razak on 25 

October.



Other issues to be discussed include the mismatch between supply 

and demand, low-cost houses in non-strategic locations, delayed 

and abandoned housing projects, no valuation requirements on new 

launches, as well as the slow implementation of the Industrial 

Building System (IBS).



Moreover, he also highlighted the significant surge in home prices, 

saying that prices have increased between 11 percent and 12 

percent per annum since 2011 in prime locations like Kuala 

Lumpur, which has the most expensive residential properties.



In fact, average prices in the capital stood at RM552,707 per unit 

in 


Q1 2013, followed  by Sabah and Selangor, with average prices at 

RM391,981 and RM365,317, respectively.