Sunday, September 23, 2012

Affordable homes for middle-income earners

The prices of houses in Malaysia have risen so much that buying a house is beyond the means of a middle-income earner let alone one who is new in the workforce.

Under the 1Malaysia People Housing programme (PR1MA), affordable housing will now be available to middle-income earners, even those who have a total household income of RM7,500 per month.

After studying 20 schemes including the HDB in Singapore before coming up with the programme, the government has widened the band to stretch it to a combined salary of up to RM7,500, previously, RM6,000. The lower threshold is RM3,000.

The houses will be sold without any ethnic quota but will be available at special discounted rates through a transparent balloting method.

PR1MA chief executive officer, Datuk Abdul Mutalib Alias, stressed that these are not low cost units and that this housing programme is about solving housing needs as well as addressing the lifestyle needs of the middle-income group.

There will be a moratorium of 10 years before the buyers can sell their units though there will be exceptions based on circumstances. Details are being worked out for an announcement next week as reported.

More: Finally, affordable homes for middle-income earners

No comments:

Related Posts Plugin for WordPress, Blogger...