7 December 2021

Regulate property market instead of building more white elephant housing projects

In the PKR-led Selangor state government’s recent 2022 Budget unveil, RM1 billion has been set aside for the development of 26,000 housing units along the Klang River’s coastal area within the next 8 years.

However, according to reports, there remains a surplus of over 30,000 housing units which are neither utilised nor sold, estimated at a total worth of RM19 billion in the current market. Hence, the Selangor state government should reconsider their strategy and start thinking about sustainable developments and resolving the issue of property overhangs.

Otherwise, the act of building more houses for the sake of building will only create more white elephant projects, instead of addressing the root cause: that most youths and lower-middle income groups cannot afford a house.

On the other hand, the state government should allocate more resources into regulating property development and promote the development of more housing units which correspond to the people’s purchasing power.

The Selangor state government should present objective and strategic plans to help those who cannot afford homes, such as rental and buying schemes, as well as Rent-to-Buy schemes to make the dream of buying a house much more achievable.

Dato’ Ng Chok Sin

MCA Selangor State Liaison Committee Chairperson

-MCA online-