Reduce affordable housing prices to RM200,000, Gerakan tells Penang

GEORGE TOWN, Jan 29 — The Penang state government should consider lowering the price of affordable housing to RM200,000 per unit so that more first-time buyers can afford to purchase a property, Gerakan deputy president Oh Tong Keong said today.

He said units priced above RM200,000 were unaffordable to many first-time home buyers.

“By reducing the price of affordable housing units in the state, I believe Penang will not face any problems of unsold units as more people will be able to afford them,” he said in a statement today.

The Penang Gerakan chairman added that it is time the state government increased the number of low- and low-medium cost units priced between RM72,500 and RM150,000 instead of concentrating only on those that cost RM300,000 each.

Oh also objected to the announcement by State Housing Committee chairman Jagdeep Singh Deo that 20 per cent of the RM300,000 affordable housing units will be open to non-Penangites.

Yesterday, Jagdeep announced a new housing policy to put 40 per cent of affordable housing units on the open market with 20 per cent for registered Penang voters and another 20 per cent for non-registered Penang voters but living and working in Penang.

“These affordable housing projects were built with exemptions and are partially subsidised so it is unfair to allow outsiders to buy them,” Oh said.

He said allowing non-Penangites to buy affordable housing units in Penang was equivalent to allowing outsiders to invest and flip the properties in the state.

He claimed this will cause inflation in the housing industry and make it harder for Penangites to buy houses here.

“This is akin to cutting off the interest of Penangites,” he said.

He accused the state government of being “clueless” about Penang’s housing issues.

“Penangites are not unwilling to buy affordable housing units. The main reason they are not buying is because of the astronomical prices of the units,” he said.

He said Penangites will only be able to buy properties if the affordable units are priced below RM200,000.

 

Source: https://goo.gl/Pi9E4i

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