Thursday, 29 November 2012

Government plans to set realistic low-cost home prices

SEPANG: A study is being carried out to determine a “more realistic” price of owning a house under the Government's low-cost housing scheme in view of the increasing cost of construction materials.

Housing and Local Government Minister Datuk Seri Chor Chee Heung said a RM70,000 price tag for a low-cost unit would be more realistic compared to the current range of RM35,000 to RM45,000.

“The cost of construction materials and labour and other things has gone up a lot, so RM35,000 to RM45,000 is no longer viable.

“We are currently studying when is the best time (to increase the prices). We are thinking about it; and how to go about it,” he told a press conference before launching a seminar on public housing organised by the National Professors Council here.

Chor explained that under the people's housing programme managed by the Government, Malay-sians whose monthly household income does not exceed RM2,500 can purchase low-cost houses at RM35,000.

He said the Federal Government had informed its state counterparts of the proposal to allow an increase in low-cost house prices but he assured that that is nowhere near implementation for now.
Source : Click


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