Provision of affordable housing: Mandatory policy should be ‘relooked’, says Rehda

KUALA LUMPUR (Oct 5): The mandatory policy of provision of affordable housing should be “relooked”, Real Estate and Housing Developers’ Association (Rehda) president Soam Heng Choon (pictured) told the FMT in a report today.

“Rehda is in support of the policy, but when the supply of this housing category has exceeded demand, or they are not favoured or taken up in certain locations, the policy should be reviewed to suit the current needs,” said Soam.

He also said that a central agency to manage the property sector could handle the current problem of “overhang” of supply plaguing some property types.

“Rehda has always been of the view that one of the best means to control overhang is the establishment of one single entity to collect and collate data, which will then be shared with all industry players,” he said.

“For example, the data will allow all parties to have a clearer picture of the kind of residential types and prices that are suitable for a specific location. This minimises the possibility of introducing a residential development that is not well-received by the local community,” Soam told the news portal.

Soam also revealed that the number of unsold properties had actually “reduced gradually”.

“During the past two quarters, the numbers were on a downward trend, although marginally,” he said.

Also speaking to FMT in its report was National House Buyers Association (HBA) honorary secretary-general Chang Kim Loong, who feels that property hunters should buy now.

“It is a buyers’ market now. Prices are low, and buyers should consider whether it’s for self-occupation or for investment.

“Buyers have lots of choices to look for completed property rather than risk ‘buying off the plans’. I’m sure buyers are concerned with the plight of victims of abandoned housing projects especially in these challenging times,” Chang said.

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