Govt urged to tie up with developers to promote affordable homes

HwangDBS Vickers is suggesting that the government accelerate its affordable housing schemes.

KUALA LUMPUR: Property experts are urging the Government to collaborate with developers and offer more affordable houses, in light of rising demand for such properties.

Association of valuers, property managers, estate agents and property consultants in the private sector, Malaysia (PEPS) organising  chairman James Wong said the affordable housing sub sector has been a “neglected area” for many years.

“It is a sub sector that has been neglected by the Government and developers for many years. So there’s  a huge gap in terms of supply and demand,” he said at a press conference during the 9th Malaysian Property Summit today.

He explained that it was not conducive for developers to purchase tracts of land at high prices specifically for affordable housing schemes.

“What the Government or quasi government should do is release surplus lands and engage in a joint ventures with developers to develop affordable houses.”

PEPS president Datuk Siders Sittampalam concurred, saying that affordable housing schemes should not just be left to developers.

“As much as Pr1ma is doing, they are still not achieving their targets. There should be more commitment from the Government sector.

“Developers are more commercially driven and it is not economical for them to set up affordable houses in major cities.”