Noh: More than 75pct of 1 million affordable homes completed

07-Oct-2017 Intellasia | New Straits Times | 6:00 AM Print This Post

The government has built more than 75 per cent of the one million affordable homes planned for the lower income group, Urban Wellbeing, Housing and Local government minister Tan Sri Noh Omar said today.

Noh, who was attending the 20th National Housing and Property Summit 2017 here today, said more affordable homes are being planned and built.

“In order to provide affordable housing in Malaysia and achieve our target of one million homes, various government agencies are working closely with the private sector.

“I have also requested the help of private developers to come onboard with providing affordable homes to the people, such as implementing the ‘rent-to-own’ scheme in private developments.”

The ministry had in August noted that the target of building one million affordable housing units were expected to be achieved by year end.

He said the government has so far spent RM13 billion on schemes to ease house ownership, such as the ‘rent-to-own’ or ‘rent-to-buy’ schemes and the 1Malaysia Transit Home programme for youths.

Noh added that the ministry had also suggested for Bank Negara Malaysia to consider relaxing requirements for home loan applications, especially to first-time house buyers.

“BNM is aware of our suggestion to ease the process of loan applications, but they still need to consider the capabilities of the applicants to repay the loan.

“They are looking at the situation of home ownership from a holistic point of view, it has to be a win-win situation for everyone.”

Noh also said that the people could look forward to continuous affordable housing development and schemes in the upcoming 2018 Budget scheduled to be tabled October 27.

According to Noh, the struggle of young Malaysians to own homes was one of the major concerns of prime minister Datuk Seri Najib Razak.

Thus, he said the people can expect more schemes and projects to be implemented. million-071444512.html


Category: Malaysia

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