Government may review national housing policy

Residential property prices in Malaysia have gone through the roof to be beyond the reach of many.

Syndicated News
Written by Syndicated News

KUALA LUMPUR — March 2, 2016: The government will most likely review the National Housing Policy, especially relating to property prices, which could be decided by both the government and market forces.

The government via the Urban Wellbeing, Housing and Local Government Ministry could conduct prudent price control by taking into account certain elements such as location and type of houses.

“This is logical not only in the interest of members of the Congress of Unions for Employees in the Public and Civil Service (Cuepacs) but the public too although they are outside the jurisdiction of Cuepacs, but I think Cuepacs represents 1.6 million civil servants.

“Coming up with such proposals is not aimed at rejecting market forces but, looking at prices going up at a rapid rate which rules out affordability of buyers, will result in the failure of the house ownership policy,” Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi said after he had opened the civil servants housing convention here today.

During the event, Cuepacs president Datuk Azih Muda suggested that the government review and revamp the policy which was seen as no longer relevant, especially to civil servants, to own homes.

Azih also suggested several other proposals including asking the government to interfere in deciding on the prices of houses and set up a land bank to build houses for civil servants.

Another suggestion is for the government to abolish the stamp duty imposed on civil servants buying their first house via the Public Sector Home Financing Board.

Zahid said it was logical for the government to respond to all the proposals from Cuepacs in the interest of public servants.

He said that he would bring all the suggestions and views of Cuepacs to the Cabinet meeting next week for consideration.

Commenting further, Zahid said it was apt to set up a land bank.

“I support what was mentioned by Datuk Azih just now that the National Housing Policy is not so relevant currently.

Zahid also wants the National Housing Department to quickly take action on 18 housing projects under its jurisdiction, most of which had been bought by civil servants including members of the armed forces, which were abandoned. Twelve are in Kelantan.

He called on buyers ending up with abandoned projects to unite and take legal action against developers. — Bernama



About the author

Syndicated News

Syndicated News

News sourced from Bernama, Reuters, AFP and other accredited news agencies, including credible blogsites and news portals.