Real deal. RM72,500 for a 657 sq ft LMC unit by balloting.

The state is Penang. The area is a higher end one; Tanjung Tokong. The lucky ones I believe are Penangites too. In fact, there were 87 of them. These are the winners who got one unit of the low-medium cost (LMC) apartment built by Eastern & Oriental Berhad (E&O). Here’s that news in TheStar. It does not state how many people actually submitted their applications which would give us a better indication as to how many more are waiting for these LMC units. One lucky buyer said that she was currently living in her father’s three bedroom flat in Air Itam and now she could move to the new unit with her two children, aged 12 and 18. She said this was her third application after her 2004 and 2008 applications. (I could not imagine 8 pax within a flat. Assuming the flat is 650 sq ft, then everyone has just 81 sq ft. Hong Kong’s micro-flats start from the same size as a Tesla. 162 sq ft.

The LMC flat is Selasih Court. The units are sold at only RM72,500. Another successful applicant was a fisherman with a family who has stayed in a transit home for the past 10 years. He is a father of 10. This was E&O’s third LMC housing project, after the Court and Palm Court in 2009. E&O had delivered 1,336 units of affordable housing since 2009. Penang State Housing, Town and Country Planning Committee chairman Jagdeep Singh Deo said that the state would continue to ensure that affordable housing in Penang is fixed at RM42,000 and RM72,500 for low-cost (LC) and LMC housing. Selasih Court is a 2.3ha development comprising 644 units by E&O Property (Penang) Sdn Bhd with 544 units sold to UDA Holdings Berhad. All the units are measuring 657 sq ft and are housed in two 15-storey blocks. Here’s that news in TheStar.

Do you need a home? If you believe you qualify to apply and need a more comprehensive list of the affordable homes in Penang? Do refer to friendly property site in Penang here. PenangPropertyTalk: Affordable Housing Projects and Location. One major requirement is that the buyer would have to be a Penangite. I think this is okay because the state should ensure all Penangites have a place to stay first. As for those who are buying these units to rent out to others, please do reconsider. From the above article, the buyers really do need the units. My personal belief is that everyone should be assisted to own a home because this is a basic need. Nobody wants to rent a place and forever be under the whims and fancies of the owner. Happy staying there dear Penangites who are successful in getting one unit.

written on 30 Sept 2017

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