News: National Housing Policy To Be Improved

Mar 12, 2019

 

The National Housing Policy 2.0, which aims to build one million affordable homes for the bottom 40 group (B40) within 10 years, will be enhanced following feedback from industry players, reported The Star.

Housing and Local Government Minister Zuraida Kamaruddin hinted that the improvements to the policy could happen as early as next month.

“There won’t be changes to the policy, but there will be enhancements to it because now we are going to launch the Affordable Housing Policy,” she said at the sidelines of a property award.

Set to be launched in April this year, the National Affordable Housing Policy is a sub-policy of the National Housing Policy.

“As we go along, we will see how it progresses. From time to time, we have to enhance the policy.”

However, the housing policy’s target to build one million units over the next 10 years generated fear among some industry players considering the oversupply of properties amid soft market conditions.

Zuraida noted that the initiatives to build affordable homes will be undertaken not only by the federal and state governments but also by private developers. She believes the market will be ready for the one million affordable housing units in the next five years.

“We have one million people without houses for the B40 segment. So, we are going to build the one million homes,” she said.

“In the next three years, we are also going to have the big data system that will give us a better projection of the market as well.”

In debunking criticisms that the housing policy lacks direction, Zuraida said the policy is “good enough” as it offers clear strategies and action plans.

“I’m not sure what they (industry players) are talking about,” she said, while noting that the policy’s direction is to cater to the M40 and B40 groups.

Outlining five core focuses, the National Housing Policy 2018-2025 offers 16 strategies as well as 57 action plans to delivering better housing facilities nationwide.

These include improving affordability and accessibility, cohesive neighbourhood, quality housing, strengthening institutional relations for the policy as well as improving coordination between transportation and housing development.

Image source from The Star Online

 

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