40,000 More Low Cost - An Incentive to the Underprivileged

The Deputy Prime Minister YB Dato’ Seri Najib Tun Razak’s announcement of the government’s change of policy and approach on housing for the poor and underprivileged is indeed a welcome move.   Datuk Seri Najib said that the government has allocated to build a total of 40,000 affordable housing units nationwide to meet the high demand for housing to cater to the needs of those from the lower income especially single mothers, senior citizens and the handicapped. 

Calling the move beneficial and timely, President of REHDA Malaysia, Mr Ng Seing Liong, JP, said that REHDA welcomes the measure as it will not only help the rakyat but also promote homeownership and the economy, especially at a time when costs of houses keep escalating as a result of building materials price increases.

With the task of providing these 40,000 low cost houses being assigned to the National Housing Department (JPN), REHDA believes that private developers will be able to concentrate in meeting general housing needs based on market forces of demand and supply.  Mr Ng expresses hope that the low cost housing quota imposed on private developers can eventually be phased out and consigned solely to JPN.

REHDA is also in total support of the government’s provision in setting up the Syarikat Jaminan Kredit Perumahan Bhd (SJKP or Housing Credit Guarantee Company Berhad) to offer loans.  The extended repayment period of up to 40 years is an incentive to the disadvantaged.  In addition, the appointment of SJKP as the financier should make the terms of financing for purchase of low cost houses easy.  Red tape in the approval and allocation process for eligible buyers should also be reduced.  “To attract people to buy, we must make the process as simple and hassle-free as possible,” adds Mr. Ng.

REHDA is optimistic that with the incentives and relaxation in financing through the appointment of SJKP, affordable housing sector of the property market will be given a big boost.

 

Issued by:

Mr Ng Seing Liong, JP

黄腾亮局绅
PRESIDENT
REAL ESTATE AND HOUSING DEVELOPERS’ ASSOCIATION MALAYSIA