National Housing Policy 2.0 can do with some tweaks.

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Do you know there’s such a thing called the National Housing Policy 2.0? Hopefully readers of kopiandproperty.com do. 😛 National Housing Policy 2.0 (article here) was unveiled to the public last month. I think all policies are as good as the team and the time it was completed. With more views from other experts as well as passing time, perhaps it may need some tweaking too. Purpose is simple, to benefit Malaysians in need of a home sweet home so that they are not left behind. Without a property, it may be poverty. Earlier article here: Own a property, escape poverty

Article in Edgeprop.my here Sarkunan Subramaniam, Knight Frank Malaysia’s managing director said that the National Housing Policy 2.0 is a good plan but needs more research. Initiatives by many parties to make housing more accessible and affordable are greatly appreciated but some need improvements. For example, the Rent-To-Own scheme enables buyers to rent their homes for five years before applying for end-financing in the following year. “We note that in order to prevent speculation, these houses under RTO can only be resold to the ministry. Whilst we understand that
KPKT wants to prevent speculation but it is not advisable to have direct government intervention through purchasing of the homes. He added, “To curb speculation, taxation mechanisms such as the Real Property Gains Tax (RPGT) and stamp duties are good enough.” Sarkunan also said, “Whilst land is a state matter, the federal government should streamline the quota and the release mechanism in all states. For example, the situation in Johor where the Bumi quota is 40%, the slow release is choking developers’ cashflow.” Article in Edgeprop.my here

I also disagree that the RTO homes are resold to the ministry unless of course the whole process is extremely efficient. Else, it should be directly sold to the qualified buyers who has already applied and approved by KPKT for example. There is really no need to add another layer because control could be within the process itself. By the way, after the RTO homes are sold to the ministry, could the process be shared transparently to all so that we are aware what happens after that? National Housing Plan 2.0 should take more views into its consideration too. Perhaps even prominent real estate bloggers who are independent could also be invited too for this session. 😛 Happy following and hopefully this year we will see many deserving Malaysians own a home sweet home.

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Article written and edited by Charles. News article summarised by Dina Batrisyia.

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