Call for govt to open more land for housing
KUALA LUMPUR: The government should consider opening more land for development, given that land scarcity has become a key factor in rising house prices, especially in urban areas.
Property portal PropertyGuru Malaysia recommends that under the 2019 Budget, the government should open up more reserve land for development and conduct land sales via open tender.
PropertyGuru also said Malaysians should have greater access to financial information.
It said while loan approvals have improved, credit visibility remains a problem for most Malaysians.
PropertyGuru also proposes that more organisations provide quicker and convenient credit checking facilities.
On revising interest rates for home loans, PropertyGuru recommends a reduction of 0.5 to one per cent for first-time buyers of affordable properties within a specific price range.
It also recommends reducing upfront costs such as legal fees and stamp duties for the purchase of affordable homes.
It also recommends that public organisations and public-listed companies provide incentives to help employees buy houses.
“PropertyGuru recommends the construction of semi-built homes that allow homeowners greater flexibility in customising spatial usage and layout as well as fixtures and furnishings. This may contribute to lower construction costs,” it said.