PEPS: Give incentives for private developers to build affordable homes

INCENTIVES are needed to encourage private-sector developers to build affordable homes as there is a possibility that Perbadanan PR1MA Malaysia, the corporation tasked with building affordable homes, may not be able to meet its target given the delays that it is facing.

Association of Valuers, Property Managers, Estate Agents and Property Consultant (PEPS) president Datuk Siders Sittampalam tells StarBizWeek that there should be an overall masterplan as there is confusion and disagreement on what is affordable housing. There are also quite a number of schemes at the federal and state levels targeted at various groups such as young people, civil servants and single parents. For PR1MA, affordable homes should not be confused with low-cost homes but for many out there, due to statements by public officials, both can be one and the same. Some argue that the term “social housing” should be used instead of affordable housing.