By: Leong Sze Hian
I am thankful to ES my HDB insider for sending me a very interesting article on housing affordability in Malaysia titled, ‘Houses in KL too expensive’ (link: http://bit.ly/29RnOVx). The article provided a table comparing housing affordability in various Malaysian cities.
As I understand, the above is for all housing types (including private property). The following are more information on the affordability of public housing in Malaysia.
Excerpts from ‘Budget 2014: 223k affordable housing units to be built next year’ published in MalayMail Online:
“houses under the PHP (People’s Housing Programme) will be priced at between RM30,000 and RM35,000 per unit in the peninsula and RM40,500 per unit in Sabah and Sarawak
… the government is also introducing a new category of affordable homes priced between RM45,000 and RM65,000 each, besides providing a subsidy of between RM15,000 and RM20,000 per unit
… the MyHome scheme is open to first-time buyers with a maximum household income of RM3,000 for the low cost and RM6,000 for the medium cost houses respectively”
Excerpts from Khazanah making housing affordable report 2015:
“Affordable housing schemes range from low-cost homes priced below RM100,000 to the RM400,000 houses (income range up to RM10,000 monthly) sold under the PR1MA scheme. Four of these public affordable housing programs not only provide assistance to the bottom-40% of households, but the middle-40% as well; housing affordability is not only a lower-income challenge”.
How does the affordability of housing, particularly public housing, in Malaysia compare with Singapore’s?
What do you think?