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KUALA LUMPUR: Rehda Institute proposed to the government to set up a dedicated unit to study the overall planning of affordable housing throughout the country.
In its latest "Report on Affordable Housing" launched Saturday, the association proposed the creation of a specialized central agency (SPCA) under the Ministry of Housing and Local Government "to redefine roles public and private sectors in the provision of affordable housing as part of a comprehensive planning. "
management, analysis and dissemination of market information. One of the main functions of the SPCA is to manage an updated and well-coordinated market information system [so that] such information must be useful [and accessible] to the industry, indicates The report.
Negara Malaysia, the Department of Statistics, the National Center for Property Information and the Rehda Institute to develop and conduct surveys and analyze data to ensure rapid dissemination of market information . At the end of the first quarter of 2018, Malaysia had 23,599 residential redundancies, of which 14,739 units (62.5%) were sold at less than RM500,000.
] The study added that unsold units under the bumiputera quota, which are not released on the open market, add to the cost of ownership and overall development costs.
According to Rehda Institute, Malaysia is t It is the only country where the private sector is taxed with a mandatory quota of affordable housing nationwide
The report is an independent study by Rehda Institute to solve structural problems in the development of affordable housing.
problems in the provision of affordable housing, including fragmentation and unequal playing field in the public and private sectors, rigid quota and price control policies, the inadequacy of land, cross-subsidies and increased development costs. public funds, low financial capacity for groups of 40% (B40) and 40% (M40), as well as the lack of reliable market data as structural issues.
As part of the proposed solutions, the report underscores the need to redefine access-level pricing levels to the statewide scale.
"[This is] to Match Supply and Demand by Streamlining the According to the report,
he proposed a maximum threshold of accessibility based on the eligibility of loans to the median income of States (see table)
Financial institutions grant an interest subsidy to persons with B40 and M40 incomes when they pay only interest at a subsidized rate for the first five years of their mortgage
"From the sixth year, [they] lower staggered amount in the early years and higher in the last part of the tenure – not in equal installments throughout the term of the loan. Group B40 refers to Malaysian households earning RM3,900 a month or less, while the M40 segment is defined as households with income ranging from RM3,860 to RM31,319.
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