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Author: savemalaysia   |   Latest post: Thu, 23 May 2019, 9:06 AM


Housing Ministry says has no scheme to monitor home prices

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PUTRAJAYA, Jan 10 — Housing and Local Government Minister Zuraida Kamaruddin said the ministry did not have specific programmes or studies to monitor property prices in the country.

However, she said previous reports produced by Bank Negara Malaysia would be used for policy-making related to affordable homes. 

"We do not have a specific programme or study for prices of property.

“But in a study by Bank Negara, those earning below RM3,000 can afford houses priced at RM160,000 and monthly installments between RM500 and RM600,” she told reporters at a press conference, here, today. 

In October 2018, Finance Minister Lim Guan Eng said the prices of new homes are expected to fall by up to 10 per cent due to the Sales and Services Tax waivers on construction services and building materials costs.

Previously, under the Goods and Services Tax (GST), six per cent was imposed on construction services.

After the implementation of the SST on September 1, 2018, Zuraida said the price of houses should be cheaper, urging homebuyers not to buy houses if they were still expensive.


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