KUALA LUMPUR: Malaysia needs a more structured and modernized construction industry or risks having a 'homeless generation' in the
future, says National House Buyers Association.
Speaking at the Does Greater Prosperity Come with Less
Housing Affordability Forum today, its secretary-general Chang Kim Loong(photo left) said
shrinking buyer affordability may result in a homeless generation if no
immediate housing restructuring is taken.
"Aside from affordability issues, there is also the
concern of investors club purchasing property units in bulk,resulting in
escalating house
prices.
prices.
- "The affordable bracket should be between RM150,000 and RM300,000, and not more.
- The government should also take a look at the affordable definition to be correlated to the actual earnings of buyers.
- "Capping developers' profits should also be considered for the affordable housing category.
- A regulated housing industry would see more reasonable home prices," he said to about 300 forum participants and industry practitioners.
Calling for a closer look at a new governance structure to
prevent an imminent housing crisis, Khazanah Research Institute research
director Dr Suraya Ismail(photo) said a planned and structured construction industry can
help address the problem.
"A fragmented
affordable housing sector will prohibit innovation and result in an inefficient
national housing system. "We need a more responsible and elastic supply of
affordable homes by improving the production processes which will lower prices
in a shorter development tenure.
"Subsidising 80 per cent of the population is not a
feasible option.
"But modernising and transforming the construction sector would provide the solution," said Suraya.
"But modernising and transforming the construction sector would provide the solution," said Suraya.
Source: New Straits Times
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