KUALA LUMPUR: The Housing and Local Government Ministry is targeting to build 100,000 affordable homes by the end of this year, in line with the Pakatan Harapan government’s manifesto to provide budget housing.
At the launch of the National Housing Policy 2018-2025 earlier on Monday, Housing and Local Government Minister Zuraida Kamaruddin said the homes, which will be made available all over Malaysia, will be capped at RM300,000.
Under its manifesto, the Pakatan Harapan government had pledged to build one million houses in 10 years.
The new National Housing Policy has outlined five focuses, 16 strategies and 57 action plans.
The five focuses include improving accessibility and affordability; quality housing for all; cohesive neighbourhood; improving coordination between housing development and transportation; and strengthening institutional capability for the National Housing Policy.
She said the govt would launch the home ownership scheme in March at KLCC in which the government would propose two price levels – RM150,000 and below, and RM150,001 to RM300,000 nationwide.
According to Bloomberg, the government will also study and start drafting the Residential Rental Act this year.
The Act will protect interests of house owners and tenants. The government expects to formalise the act by 2020.
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