It cannot be stressed enough that the demand for homes at present is far higher than the available supply. The country just needs more affordable ones instead of units priced above RM600,000.
However, there has been no indication yet as to the distribution of these 100,000 homes. Which state will get the lion’s share? Which state will have the fewest? It’s definitely not possible to distribute the units equally across all states.
Here’s another announcement on affordable homes but this is by a state Menteri Besar instead of a federal minister.
In an article in edgeprop.my, the Selangor state government announced it had plans to build 30,000 affordable units by 2025.
Its Menteri Besar Amirudin Shari said, “So far, we have handed over the keys for 3,770 units to the people of Selangor. The rest will be built under the Selangor government’s Rumah SelangorKu initiative.”
He further elaborated, “Affordable housing is one of the earliest issues the state government fights for as we want to give every Selangor citizen the opportunity of having their own home. I have instructed developers to intensify the construction of Rumah Selangorku developments so that more people can enjoy the benefits.”
Rumah Selangorku is set to have 864 units priced at RM232,000 per unit and will include two parking spaces.
Well, a check shows that the size of these units are 1,000 sq ft which means that the price is only RM232 per sq ft and comes with two car parks.
If this is the minimum standard moving forward, it’s really attractively priced and the only thing the government must focus on now is connecting these new developments with public transportation so residents staying there need not drive.
If they can save a few hundred ringgit every month on fuel, toll and the maintenance of their cars, this will help them pay their mortgages on time.
By the way, this is why the construction of all MRT lines must be continued, and delayed LRT lines must be expedited.
Remember, having a roof over your head should be made available to all Malaysians.
This article first appeared in kopiandproperty.com
Charles Tan blogs at property investment site kopiandproperty. He dislikes property speculators and disagrees that renting is better than buying. He thinks it’s either property or poverty. He is presently the CEO of an auction house auctioning assets beyond just properties.