Govt to build 78,000 units of low-cost houses

KUALA LUMPUR: The Housing and Local Government Ministry is targeting to build 78,000 units of low-cost houses in the country under the Public Housing Project and Housing Aid Programme of the 10th Malaysia Plan.

Minister Datuk Seri Chor Chee Heung said that the 1Malaysia Housing Programme (PR1MA) in collaboration with government and private organisations was to meet the needs of the lower-income groups where the houses were priced between RM150,000 and RM350,000 depending on the location.  

"The ministry will implement several mechanisms such as the 70 per cent loan-to-value ratio for the purchase of a third house and above," he told the Dewan Rakyat, here on Thursday, Oct 20.

Chor disclosed this in a written reply to a question by Teresa Kok Suh Sim (DAP-Seputeh), who wanted to know the number of affordable houses to be built, the price and also the steps taken to solve price increase of houses in the country.

Other than that, Chor also said that the Real Property Gains Tax (RPGT) introduced on Jan 1 last year was to cut down the rising concerns over property speculation that caused prices of houses to rise in Malaysia.

"We will closely monitor any changes in pricing and would implement necessary measures to control the price," he added. — Bernama