Middle class Malaysians who are aspiring to buy a home will soon be able to do so once a new Government-led initiative to build apartments costing less than RM300,000 in major cities is launched this year, Housing and Local Government Minister Datuk Chor Chee Heung said.
The affordable housing scheme, which is an addition to the My First Home Scheme for units costing between RM100,000 and RM220,000, will see stratified units priced between RM220,000 and RM300,000 being built for those with a household income of less than RM6,000 a month and who do not yet own a house.
“The Government will do whatever it can to ensure the lower income group will have a house and the medium income group will have a chance to buy a property of their own,” he said in an interview with The Star.
Chor said the plan was for units to be between 850 sq ft and 1,000 sq ft and each apartment would have a minimum of three rooms.
The ceiling price of RM300,000 will be for units built in Kuala Lumpur, Penang and Johor Baru and the price will be lower in other parts of the country. - By Jagdev Singh Sidhu and Paul Gabriel (The Star)
7 comments
850 sq ft for 300k !!! come on ...
Should be considering at least 1000 sq ft in this price ...
"The ceiling price of RM300,000 will be........"
To me, that means the maximum price for a 1000sqft unit is RM300,000. It can be as low as RM250,000.
Right now, this is still all talk. The devil is in the details; fittings, quality, location, builder selection etc. In order to get the best product to the end-user, an "open-competitive" system has to be developed. We'll have to wait and see.....:)...Malaysia Boleh kah?
Great idea! But as usual (in our beloved motherland anyway) its success relies on execution.
eg.
- would the odds be better than applying for JPA scholarship?
- will I be assigned to an area far too remote to be meaningful?
I earn 5 figures salary but can hardly afford anything decent, am I a middle class, hence be eligible?
On second thought, Penang government should just announce plan to move Turf Club to Batu Kawan to make room for 100,000 units affordable "condo".
The property market will crash, and without lifting a finger, we have 200,000 units affordable housing instantly.
At last, monthly payed working people able to afford their first house. Few questions to ask gov:
1. Who is going to subsidize the houses?
2. Transparency?
3. Quality of building?
4. Location?
5. Any lubang for speculators or cronies?
It is a good thought but I hope the one who really needs it will gets it.
Dear daamao,
You are right, the problem in Bolehland is "execution" & "enforcement".
As for the odds, I think you have zero chance because you earn five figure. The income ceiling is RM6000..:)
A RM300k gov subsidized condo in a remote area? If that happens, that is as good as throwing the people's money into the drain as no one would buy. What's the point of buying a gov condo when you can buy a private condo (with no conditions attached) for almost the same price in a remote area? Unless it comes with a jacuzzi & balinese garden (like the one Toyol has)...:) Then again, you are not suppose to use the people's money to subsidize jacuzzis, are you? People who earn five figure salary would be mad!
Ah Turf Club!!..It's been a while since we last heard about it. I agree the state gov should leverage on that to do something for the rakyat (election is round the corner, DAP is probably saving this as an election wild card), but probably not to the extend of depressing the whole penang property market though...:)