Failing oil prices and weakening Ringgit have greatly affected the country’s economy as well as government’s revenue. Despite the uncertainties and doubts, the government has adopted a balanced budget proposal in providing continuous commitment and emphasis to strengthen public infrastructure and to support economic expansion. Then, this can lead to both economic growth and the wellbeing of Malaysians.
Source: Free Malaysia Today
Affordable Housing
In recent years, the government has and continues to take several steps to reduce speculations regarding the hike of the property market prices. Hence, the shortage of affordable housing for Malaysians still remains an elusive problem to resolve.
There’s a total of 317,000 units of affordable homes that have been planned under PR1MA, Rumah Mesra Rakyat, Perumahan Penjawat Awam 1Malaysia (PPA1M) and Program Perumahan Rakyat. In order to further enhance the affordable housing program, RM200 million will be distributed to assist potential first time home buyers to purchase affordable houses.
Transportation
In order to continue to ease the traffic congestion in Kuala Lumpur city areas, RM900 million has been allocated for a dispersal road off Jalan Tun Razak from KLCC to Tun Razak Exchange.
Locals from East Malaysia will also benefit as the highway is expected to increase accessibility across Sabah and Sarawak, thereby prompting residential, commercial, industrial projects and developments. Around RM42 million has also allocated for Mukah Airport (Sarawak) and the upgrading of Kuantan and Kota Bharu will also stimulate further property development in the involved cities.
iProperty.com Malaysia also works closely with the property related experts such as Ho Chin Soon Research Sdn Bhd to regularly update on the status of Malaysia’s transportation links and on-going infrastructure development that equip our customers and consumers with tips and advice.
Additional Fund
The Industrialised Building System (IBS) RM500million fund provided by SME Bank would definitely spark the property and construction industry. This would also allow the major market players to further develop the usage of this technology for time savings and reduction of material wastage during construction.
In conclusion, the government has contributed several support plans in order to support the country’s economic expansion and growth. However, more measures should be taken into consideration in order to assist first time home buyers as well as middle class households who have previously been neglected.
As such, iProperty.com Malaysia has and will continue to run its Asia Consumer Sentiment Survey to obtain feedback from consumers, your potential buyers on their preference and concerns regarding the property industry.
