PropertyGuru: Fix price range for affordable housing

property-guru-sheldon-1KUALA LUMPUR: There is a great need to fix the price range for “affordable housing”, said online property portal PropertyGuru Malaysia country manager Sheldon Fernandez.

“The thing is there is no uniform price for what qualifies as ‘affordable housing’ in Malaysia.

“This is generally meant to be homes priced from RM300,000 to RM500,000.

“But consumers in the B40 lower-income segment will not be able to afford such prices,” he said.

The B40 segment refers to the bottom 40% of households with a monthly income of below RM3,900.

Sheldon said it was important for the planned regulatory body for affordable housing to have a good team to engage with developers and consumers.

This will help in addressing important issues in the market, he added.

On Tuesday, Second Finance Minister Johari Abdul Ghani said the planned regulatory body may be able to solve the mismatch between demand and supply of affordable housing.

He had said there were too many complications involved in the development of affordable housing at present.

Sheldon said the completion of the Mass Rapid Transit (MRT) project was a great boost for housing. The trains now run 51km from Sungai Buloh to Kajang.

The residential areas along the MRT line will be served by 300 feeder buses so that motorists can leave their cars at Park n Ride facilities and ride the trains to work or the city centre.

Sheldon said connectivity and mobility are key requisites for progress in the property industry.

“We can start to see pocket housing development happening further away from the city.”

PropertyGuru had late last month expressed the need to streamline affordable housing development programmes under a single effective management.

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