Malaysia needs to incentivise material imports to encourage affordable housing

KUALA LUMPUR (Feb 7): Malaysia has to incentivise material imports even more in order to enhance its affordable housing efforts even though it is ahead of other countries, Bernama reported Australia’s Compass Housing Services as saying today.

“Malaysia is one of the best countries in terms of national plans, and Australia can actually learn a thing or two from it,” Compass Housing Services group managing director Greg Budworth told Bernama on the sidelines of the United Nations Habitat Business Assembly, here today.

He said the cost of affordable housing could also be cut down by the introduction of more bond regimes.

Budworth is also vice-president of the UN-Habitat General Assembly of Partners. He delivered a presentation on sustainable development goals at the assembly, which is a featured programme under the World Urban Forum.

Compass Housing Services is one of Australia's largest non-government social housing providers.

Budworth also said that the discussion about affordable homes should redirected from “the cost point of view to a government investment approach”.

“There are also technologically efficient ways to use resources. However, I think if the government invests in the construction of affordable housing, it will economically multiply,” he explained.

Budworth added there were also social benefits beside the economic benefits such as higher employment rate, lower crime rate, better education and a better lifestyle.

“A stable city is good for the economy and the people,” he said.