news

Panel of experts to review ceiling price of affordable housing, says KPKT

(Photo by Zahid Izzani/The Edge filepix)

KUALA LUMPUR (Dec 7): The government will set up a panel of experts to review the ceiling price of the existing affordable housing, said Deputy Housing and Local Government Minister Datuk Seri Ismail Abd Muttalib.

He said this was in view of the impact of the Covid-19 pandemic on the people’s economy.

“Currently, the ceiling price of affordable housing is set at RM300,000 and it needs to be reviewed as many people are affected and have slipped from the M40 group to the B40 group due to the Covid-19 pandemic,” he said when winding up the debate on the Supply Bill 2022 at the committee level for the ministry in the Dewan Rakyat on Monday (Dec 6).

He said the ministry would also look into the proposal to implement the rent-to-own (RTO) scheme for the People’s Housing Project to assist more people with low income to own a house.

Meanwhile, Ismail said a total of 34 PR1MA projects have been completed to date involving 26,337 units, while 27 projects (20,760 units) were under construction and another 2,264 units in the planning stage.

“As for the Malaysian Civil Servants’ Housing project, a total of 164 projects have been completed involving 24,717 units, 65 projects (14,308 units) under construction and 44 projects (18,309 units) in the planning stage,” he said.

Meanwhile, Ismail said Syarikat Perumahan Negara Berhad (SPNB) was currently monitoring 12 ‘sick’ projects nationwide.

Of the total, two projects have obtained the Certificate of Completion and Compliance (CCC) in stages, namely one project in Gurun, Kedah and another one in Batu Gajah, Perak, he added.

A total of 21 Members of Parliament to part in the debate session and the Dewan Rakyat then approved an estimated operating expenditure of RM1,767,450,800 for the Housing and Local Government Ministry with a majority voice vote.

Get the latest news @ www.EdgeProp.my

Subscribe to our Telegram channel for the latest stories and updates 

Click here for more property stories

Like our content? Check out Narratives – where we curate stories based on topics to keep you well and broadly informed about Malaysian real estate.

Looking for property? Check out Location Scan, where we summarize all available options and facts you need in a few clicks. We have updated the tool to include MRT3 stations too.

Curious how much you can borrow? Use LoanCheck to get your maximum loan eligibility from various banks, or LoanReport to get a FREE CTOS/CCRIS credit report.
SHARE
RELATED POSTS
  1. Kelantan allocates RM55.38mil for people's housing this year
  2. PR1MA, Sinergi Dayang sign agreement to develop 763 affordable homes in Pahang
  3. KPKT minister: A strategic and inclusive budget for all