HOUSING developers may need to submit their feasibility study before commencing a development project, says Housing and Local Government Minister Zuraida Kamaruddin.
Currently, she noted that developers were not required to hand in their feasibility studies to the ministry.
She said submitting the feasibility study would enable the ministry to advise developers on whether their proposed development would meet market needs.
“This is one thing we are looking at, so the ministry with big data information can have our own projection and can advise developers if the projects are suitable or not.
“That is one way for the ministry to control development so there will not be a mismatch between these projects (and the market demand),” she said during the Ministerial Question Time.
Chang Lih Kang (PH-Tanjong Malim) had asked for the reasons to the proposed vacancy tax on housing developers who were not able to sell their completed housing units.
Zuraida said there was no decision yet by her ministry on imposing the vacancy tax.
She said based on the statistics, most of the overhang units were high-end premium properties valued at RM500,000 and above.
“So the ministry feels that we will look at other ways to control developers from building houses that are not in line with market demand.”
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