KUALA LUMPUR: The National Housing Policy 2.0, which targets to build one million affordable homes within 10 years for the bottom 40 group (B40), will be improved after feedback from industry players.
(The National Housing Policy is targeting to build one million affordable homes within the next 10 years for the B40)
Housing and Local Government Minister Zuraida Kamaruddin said the policy would be enhanced, hinting that it could happen as early as April.
The National Affordable Housing Policy, which is a sub-policy of the National Housing Policy, is expected to be launched in April 2019.
“There won’t be changes to the policy, but there will be enhancements to it because now we are going to launch the Affordable Housing Policy.
“As we go along, we will see how it progresses. From time to time, we have to enhance the policy,” she told StarBiz on the sidelines of the StarProperty.my Awards 2019.
Zuraida officiated the The StarProperty.my Awards 2019 organised by StarProperty Sdn Bhd, which returned for the fourth year, featuring some of Malaysia’s leading developers in the real estate industry.
Among those present were Johor Land Bhd, MAH SING GROUP BHD, Matrix Concepts Group, Sime Darby Property Bhd, S P Setia Bhd, Gamuda Land Bhd, MALAYSIAN RESOURCES CORP Bhd, Sunway Bhd, Tropicana Corp Bhd, SkyWorld Development Bhd, Paramount Property Development Sdn Bhd and LBS BINA GROUP BHD.
The housing policy’s aim to build one million affordable units in the next 10 years had caused fear among some industry players given the overhang of properties amid soft property market conditions.
According to Zuraida, the initiatives to build the affordable housing will be undertaken by the federal and state governments as well as private developers. She foresees the market to be ready for the one million units in the next five years.
“We have one million people without houses for the B40 segment. So, we are going to build the one million homes.
“In the next three years, we are also going to have the big data system that will give us a better projection of the market as well,” she noted.
On the criticism by some industry players that the National Housing Policy lacks direction, Zuraida thinks the policy is “good enough” with clear strategies and actions plans.
“I’m not sure what they (industry players) are talking about,” she said, adding that the direction of the policy is to cater to the B40 and M40 segments.
The National Housing Policy 2018-2025 outlined five core focuses, 16 strategies and 57 action plans towards better housing facilities nationwide.
These include improving accessibility and affordability, quality housing, cohesive neighbourhood, improving coordination between housing development and transportation as well as strengthening institutional relations for the policy.
Meanwhile, the prestigious The Starter Home Award - for Best Affordable Homes - was bagged by Matrix Concepts Bhd, Mah Sing Group, LBS Bina Group Bhd and Paramount Property Sdn Bhd.