Thursday, March 30, 2023

Govt introduces Housing Price Mapping to help both developers and buyers

NewsGovt introduces Housing Price Mapping to help both developers and buyers

The government will be introducing a housing price mapping initiative as a guide for developers in providing affordable housing in the country, said Deputy Housing and Local Government Minister Datuk Seri Ismail Abd Muttalib. 

This initiative can also help the public identify the prices of homes offered by developers according to localities nationwide.

“The people will be able to know the price of affordable houses in an area and developers will be able to plan on developing houses that are saleable.”

“This will be able to help reduce property overhang or mismatch between demand and supply,” he was quoted saying by Bernama.

Meanwhile, Ismail reveals that the ministry had approved a total of 275 PPAM projects involving 57,404 residential units.

Source: Sinar Harian

“Through this PPAM initiative, we have been able to complete 171 projects with a total of 25,267 units, while another 61 projects or 13,845 units are under construction.”

“In addition, 43 projects with 18,292 units are being planned,” he said.

The PPAM projects were implemented by the government in collaboration with private housing developers on private land or government land.

Ismail elaborated that the existing business model for PPAM projects on private land was through the distribution of facilitation funds.

“As a show of appreciation for civil servants, the government has provided an allocation of RM1.55 billion for the PPAM programme under the 12th Malaysia Plan with a commitment of RM1.121 billion.”

“As such, we welcome the participation of more developers to build PPAM houses that are not only of quality, but also meet the needs of the people, complete with various public facilities,” he said.

The Kasturi PPAM project is expected to be completed this June ahead of its scheduled date in April 2024.

Trending now

- Advertisement -

Subscribe to our newsletter!

Recommended for you