Government lands for GLCs and PR1MA to build affordable homes

KUALA LUMPUR (Oct 21): Government lands will be made available for the building of 30,000 affordable homes in the country, Prime Minister Datuk Seri Najib Razak said in his Budget 2017 speech today.

"We will provide government vacant lands at strategic locations to GLCs (government-linked companies) and Perumahan Rakyat 1Malaysia (PR1MA) to build more than 30,000 houses with the selling price ranging between RM150,000 and RM300,000 which is much lower than the market price of RM250,000 to RM400,000," he said.

Other proposed measures to enhance first homebuyers’ housing affordability include building around 10,000 houses in urban areas for rental to eligible youths with permanent jobs. This includes new graduates who have just entered the job market.

"They may rent up to a maximum of five years, at a rate lower than the market rate, while they strengthen their financial position to own a house," he said.

Meanwhile, RM200 million will be allocated to Syarikat Perumahan Negara Bhd (SPNB) to build 5,000 units of People’s Friendly Home (PMR) with the government subsidising up to RM20,000 per unit.

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