PETALING JAYA, 20 April: The housing market needs an additional 100,000 to 110,000 new units per year nationwide in order to meet the needs of the population, said the Real Estate and Housing Developers’ Association Malaysia (REHDA).
“About 63% of Malaysians are below the age of 35 and they are the ones looking to buy houses. We don’t have enough houses,” REHDA president Datuk Seri FD Iskandar told reporters at a briefing yesterday.
On 18 April, the Valuation & Property Services Department (JPPH) director-general of valuation and property services Dr Rahah Ismail said that the national housing supply of 6.4 million is adequate.
The 6.4 million includes existing supply, houses in the pipeline and planned supply.
FD Iskandar said while this is true in certain locations, other places like the Klang Valley will need more houses as the population is projected to grow from seven million now to 10 million by 2020.
He said more houses will be needed in the Klang Valley as more people move interstate due to education and job opportunities.
— THE SUN