Housing price mapping to be introduced as guide for developers

The Housing Price Mapping initiative will be introduced as a guide for developers in providing affordable housing in the country, said Deputy Housing and Local Government (KPKT) Minister Datuk Seri Dr Ismail Abd Muttalib.

He said the initiative could also help the public to identify the prices of homes offered by developers according to the localities nationwide.

"The people will be able to know the price of affordable houses in an area and developers will be able to plan on developing houses that are saleable.

"This will be able to help reduce property overhang or mismatch between demand and supply," he said at the signing ceremony of the Kasturi Malaysian Civil Servants Housing Programme (PPAM) Facilitation Fund Agreement here yesterday.

The agreement was signed by KPKT secretary-general Datuk M Noor Azman Taib and Putrajaya Holdings chief executive officer Datuk Hashimah Hashim.

Meanwhile, Ismail said the ministry had approved a total of 275 PPAM projects involving 57,404 residential units.

"Through this PPAM initiative, we have been able to complete 171 projects with a total of 25,267 units while another 61 projects or 13,845 units are under construction.

"In addition, 43 projects with 18,292 units are being planned," he said, adding that the PPAM projects were implemented by the government in collaboration with private housing developers on private land or government land.

He said the existing business model for PPAM projects on private land was through the distribution of facilitation funds.

"As a show of appreciation for civil servants, the government has provided an allocation of RM1.55 billion for the PPAM programme under the 12th Malaysia Plan with a commitment of RM1.121 billion.

"As such, we welcome the participation of more developers to build PPAM houses that are not only of quality but also meet the needs of the people complete with various public facilities," he said.

Ismail added that the Kasturi PPAM project is expected to be completed this June ahead of its scheduled date in April 2024.

Source: Bernama