Govt working on affordable housing plan

SHAH ALAM: The government is working on a plan to enable those earning above RM3,000 to own low cost housing, said Urban Wellbeing, Housing and Local Government Minister Tan Sri Noh Omar today.

"We are currently formulating it for the N40 group which we hope to have ready by year-end," he told reporters today after launching the 2017 affordable housing scheme at the Shah Alam Convention Centre.

He also noted the challenges faced both by developers and first time home buyers.

He appealed for the banks to be lenient to those who wish to purchase their own property.

"We have engaged with Bank Negara to be flexible about it ... we understand they're currently studying the matter," he said.

Earlier, Rehda (Real Estate and Housing Developers' Association) president Datuk Seri FD Iskandar Tan Sri Mohamed Mansor urged the ministry to balance out the problems faced by developers and home buyers given that some banks are reluctant to provide loans to the latter.