Housing incentives more inclusive and focused in Budget 2016

Housing incentives more inclusive and focused in Budget 2016

KUALA LUMPUR, October 23 — Housing incentives announced in the Budget 2016 are more inclusive and focused as they involve various agencies, including government-linked companies (GLCs).

Syarikat Perumahan Negara Berhad (SPNB) director Datuk Dr Kamarul Rashdan Salleh said they can promote home ownership for all and lower the cost of living.

“The 1Malaysia People’s Housing (PR1MA) project is to build and sell houses at 20% below market price and the First Home Deposit Scheme will encourage more people to buy houses,” he said when contacted by Bernama today.

Tabling the Budget 2016 in parliament today, Prime Minister Datuk Seri Najib Tun Razak said 351,500 units will be built for the needs of the people and announced the construction of 175,000 units of PR1MA through an allocation of RM1.6 billion, of which 10,000 units are to be completed next year.

A total of 100,000 units under the 1Malaysia Civil Servants Housing (PPA1M) will be built by 2018 with prices ranging from RM90,000 to RM300,000.

Meanwhile, Federation of Consumer Associations of Malaysia (FOMCA) group communications director Mohd Yusof Abdul Rahman said the budget was more comprehensive as it not only focused on urban but also rural areas.

“Klang Valley residents face home ownership problems due to higher cost of living. This time, the home ownership problem of people in rural areas is also given consideration,” he said.

Muslim Consumers Association of Malaysia chief activist Datuk Nadzim Johan said the housing projects planned were more organised as they involved areas with transport infrastructure.

“Construction of housing in areas with infrastructure makes sense as rising cost of fuel and toll charges are often raised by the people,” he added.

Some 5,000 PR1MA and PPA1M houses will be built in 10 locations near Light Rail Transit (LRT) and Monorail stations in Pandan Jaya, Sentul and Titiwangsa.

A total of RM150 million has been allocated to build and repair 11,000 poor households in rural areas and RM155 million to maintain low-cost housing projects.

— BERNAMA

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