Rep Wants Release Mechanism For Bumi Housing Units Worth Above Rm300k

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Ayer Keroh assemblyperson Kerk Chee Yee has urged the Malacca government to establish a "release mechanism" for housing units under the bumiputera quota valued at RM300,000 and above.
The DAP lawmaker said the mechanism would allow such houses to be released if they still cannot be sold after a reasonable period of time.
This in turn would ensure that housing development activities in the state are commensurate with economic development, he explained.
"We often associate increased housing development with increased economic growth. However, in certain instances, this is not true.
"Without the right policy and mechanism from the state government, we may face a situation where housing prices in the state rise sharply due to speculative investment activities and the development is not commensurate with economic growth," Kerk told the state assembly today.
He said this in his speech during the debate session.
Ayer Keroh assemblyperson Kerk Chee YeeAs a result, the prices of houses and goods go up, but the people's wages and income level do not grow at the same level, he added.
Kerk also called on the government to create more affordable and low-cost housing units.
“For units in Malacca that exceed the value of RM300,000 (not under the low-cost and affordable category), purchasing activities among the people will contain investment elements - buyers expect home values to rise in the future.
"For housing worth RM300,000 and above, one practice we often see is that bumiputera buyers choose to buy housing under the non-bumiputera category.
“For some bumiputera housing units that are relatively more difficult or slow to sell, the developer has to bear the cost which can be transferred to other buyers indirectly. This affects all citizens," he noted.
Kerk added that it is the state government's responsibility to ensure the stability of housing prices. - Mkini

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