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900 sq ft, 5 bedrooms, 4 bathrooms and just RM300,000?

How many rooms could be fitted into a 900 sq ft home? The article title says it all. 5 bedrooms and 4 bathrooms and priced at RM300,000. Smaller sized affordable homes could be priced even lower and the price could even start from RM120,000. This is good news for B40 households. In fact these different sizes would be suitable for B40 households who are a happy single, a loving couple or even a harmonious family of 3, 4 or 5 persons. The specs and the price were announced by The Better Malaysia Foundation (BMF).

Article in thestar.com.my BMF founder Tan Sri Vincent Tan said, “Affordability is a key issue as most, if not all, B40 households will not be able to purchase a home without some form of financial assistance. I understand that in the Klang Valley, for every 1,000 affordable houses launched there are something like between 10,000 and 60,000 applicants vying to purchase them. There is a severe shortage of affordable homes to meet demand.”

In collaboration with Berjaya Land Bhd, Tan shared that BMF has designed a 900 sq ft, five-bedroom, four-bathroom show apartment specifically for this initiative. He also said that these affordable homes can be realistically priced from RM120,000 to RM300,000 for an apartment with sizes starting from 450 sq ft, 600 sq ft, 750 sq ft and up to 900 sq ft in the Klang Valley. Please do read the full article in thestar.com.my

Affordable home does not necessary need to be owned

It’s important to have a home we could own so that we do not need to pay rental for it forever. At the same time however, we must be savvy to the fact that some households really could not afford to pay even a low monthly mortgage of a few hundred ringgit. Many times, they may want to own a unit in the future but they really need help now to ensure they could at least afford to have proper meals everyday.

This is why it’s really possible for the government to step in and provide these basic homes and rent it to these households at a nominal rental so that these households are not spending most of their income on rental. For example, singles needing a home does not actually need one whole unit to themselves. A proper room with shared hall, kitchen and even bathrooms would also suffice because if we could help them to spend nominally on rental, then they would have a better life and could even be focused on working versus going hungry every other day.

If it’s just a room, then the cost to refurbish or build them would be substantially lower too. There is really no need to force every Malaysian to own a home. Let’s help all Malaysians with their accommodation needs.

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Next suggested article: Rental units up, rental rates down. Double whammy really.

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Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of kopiandproperty.com He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. kopiandproperty.com is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.

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