Every State has its own guidelines when it comes to affordable housing schemes where there are sets of rules and regulations on the numbers, sizes and selling price of these houses.
The pricing for affordable houses is determined by the State government depending on the type of house. The housing developers will be required to build certain type and number of each type of affordable house as required under planning requirement when they initiate a certain property development project.
Research by the Khazanah Research Institute (KRI) states that the threshold for affordable housing is one where the cost of the house is three times the median income, called the Median Multiple.
This calculation defines that if a household can finance the house with less than three times its annual median household income, the house is considered affordable. Anything higher than that, it’s considered unaffordable.
“We foresee that there is still a great demand for affordable housing especially in the urban area of Klang Valley and other major cities in Malaysia. Based on our experience with regards to the local industry trend, the affordable houses within Wilayah Persekutuan which is called Residensi Wilayah or formerly known as RUMAWIP are still popular with those residing or working within the city,” says Sr Mohd. Salem Kailany, President and Chief Executive Officer of UDA Holdings Berhad.
Denne historien er fra July 2021-utgaven av Business Today Malaysia.
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Denne historien er fra July 2021-utgaven av Business Today Malaysia.
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