KUALA LUMPUR (Oct 19): Transport Minister Anthony Loke (pictured) has proposed that transit-oriented development (TOD) projects be given relaxation to reduce the number of car park bays as a measure to lower the prices of houses.
He said the proposal will also encourage residents to use public transport and indirectly reduce traffic congestion while buyers can choose not to have a car park bay.
“I see this as killing two birds with one stone as we could encourage the people to use public transport and reduce the cost of houses as the construction of car park is a cost to developers.
“However, this is only a proposal and it is up to the Housing and Local Government Ministry which has the jurisdiction on the matter,” he said.
Meanwhile, the Real Estate and Housing Developers’ Association (Rehda) president Datuk Soam Heng Choon said with easy access to transportation, new developments may not need to provide excessive car parks for each strata unit anymore and thereby reduce the construction cost per unit significantly.
Soam said this would have a positive impact on house prices as the cost savings could be translated to lower prices.
“For example, the cost of building a car park in KL today is RM50,000 per bay. So currently if we construct an apartment, there is a requirement for two car parks plus 10 per cent for visitors. So if we could reduce by one car park bay, we can save RM50,000. This is the impact we can have on property price.
“So I think the suggestion by the Minister (Anthony) just now is something sensible. By reducing the requirement for car park, we can actually bring down the cost so its actually a double saving.
“After this, I will be going back to my fellow developers, if they have any projects that is near TOD, we will then work with the local authority, to cooperate with MOT and Housing Ministry. And see whether we can find an applicable solution and suggestion which can benefit the rakyat at the end of the day,” said Soam.
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