Housing and Local Government Minister Zuraida Kamaruddin has revealed that 1 million affordable homes project is on track to accomplish within the next 10 years.
She also mentioned that almost 46,666 units have been completed in just 17 months and around 180,000 units are under construction. However, another more than 386,000 units have already been designed on the drawing board to initialize the construction.
She also said that the government has a target to construct 100,000 units a year.
As per Zuraida, the government has also planned to develop various other categories of houses, which are more likely to be finished by the end of 2020. These include over 4,400 units for youth transit homes, over 3,800 units, and over 4,200 units under the people’s housing project and the civil servant housing scheme, respectively.
She also said that many private developers are showing their interest in the government’s housing project, where more houses are intended to be built at a price less than RM300,000.
Zuraida said that these private developers would understand the government’s demand and would reduce the construction of luxury homes as many of them are unsold or in the selling process. So, it would not be a good practice to still go with similar projects.
She also explained the main reason behind this issue. She said the discrepancy between the people’s demand and supply from the developers results in the lack of proper information for such house planning deeds.
So, the government has already started creating a data system that will provide all essential information as per the location and price. This system is expected to be available to access the data by the end of 2020, she said.
She also said that various programmes are also being considered to help people in the homeownership process, these include RTO scheme for those who are not entitled to apply for home loans by financial organizations.
Moreover, “If they consistently pay monthly rent, they can apply for a loan using it (documents/agreement related to monthly rent) as their supporting document”, she said.
Also, due to the zero extension to Home Ownership Campaign (HOC) in 2020, she said the government would encourage developers to offer certain concessions to the interested buyers.