DPMM Estimates One Million Affordable Homes Needed Throughout Malaysia

Posted on: 2015-10-30


KUALA LUMPUR, Oct 30 (Bernama) -- The Malay Chamber of Commerce Malaysia (DPMM) estimates that one million houses are needed throughout Malaysia to meet the needs of the middle income group.

Of this number, 300,000 such houses are needed in the Klang Valley alone, said its president, Datuk Syed Ali Alattas.

He told reporters this after a Post-Budget 2016 Forum here today, while expressing the hope that the government can create a housing bank to assist developers and house purchasers.

"This institution is important as the cost of building 300,000 units of homes costing RM200,000 needs financing of about RM60 billion," he added.

According to Syed Ali, the developers association in Melaka reportedly failed to sell 50,000 low cost houses as banks refused to provide loans to buyers.

Commenting on the Budget 2016, Syed Ali said there were still issues that had not been overcome, namely the financial allocation for ensuring the success of the Bumiputera agenda in the microfinancing business which was increasing.

"Only 3.5 per cent of the budget allocation of RM260 billion was for this sector. In the current uncertain economic situation, the microfinancing business sector has been somewhat affected."

He said during the 1997-1998 economic crisis, DPMM had received more than RM500 million to assist half its members who were affected by it.

"At that time, DPMM had less than 10,000 members. At present, we have more than 500,000 Bumiputera entrepreneurs registered with us, and who need assistance towards continuing their businesses," Syed Ali added.

Share:

Source From: property.bernama.com

Other News & Articles


Pasaran Hartanah Meningkat Separuh Pertama 2021

Pasaran hartanah Malaysia mencatatkan sebanyak 139,754 transaksi bernilai RM62.01 bilion pada separuh pertama 2021, menunjukkan peningkatan jumlah sebanyak 21.0 peratus dan nilai 32.1 peratus...

Posted on: 2021-10-01

Permintaan Pembiayaan Perumahan Pulih Melepasi Paras Prapandemik -BNM

Permintaan pembiayaan perumahan pulih melepasi paras prapandemik, menurut Tinjauan Kestabilan Kewangan Separuh Pertama 2021 Bank Negara Malaysia (BNM)....

Posted on: 2021-10-01

Home Buying For Newlyweds

Newly married couples usually dream of purchasing a home together. In fact, buying a home may often be a first-time experience for both husband and wife and one of the most expensive purchases a new couple will ever make....

Posted on: 2021-09-02