Prime Minister Datuk Seri Najib Tun Razak looking at a model of a housing project at a property expo in March. With him CEO of PRIMA Datuk Abdul Mutalib Alias (right) and Urban Wellbeing, Housing and Local Government Minister Tan Sri Noh Omar
KUALA LUMPUR: Bank Negara says claims by property players that there is an overbuilding situation in the affordable housing market is based on the “inaccurate” definition of the segment.
The central bank said that houses in the price range of RM300,000 to RM500,000 are beyond what is affordable to households earning the median income in Malaysia.
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