Yesterday afternoon while having a nice cup tea with my good friends and neighbors in the booming Bandar Baru Bangi town , one of them was lamenting that the price of affordable houses in Bandar Baru Bangi has gone skyrocketing beyond the reach of most Malaysians. He gave the example of a friend of his who just bought a basic (not renovated) terrace house in strategically located section 9 ( D' Cempaka) of Bangi at 650 K. He was not not talking about a semi detached house but just an intermediate 20 X 70 lot. I remember the terrace houses in the area were originally sold at 340 K. That is almost 100 % rise in just 4 years. Section 9 is a quiet and naturally gated area nestled in the middle of Bandar Baru Bangi town. The prices of houses in the area have have actually gone crazy. I believe the government must do something drastic to stem the the perpetual and s artificial increase of the price of houses in the country.
| Stop the housing speculators thru RPGT |
1. I strongly believe that the government must resist the pressure from the unscrupulous housing developers (REHDA) who are pressuring the government to increase the amount of housing loans that a government servants can take. These developers are money making machines who have no qualms about sucking every penny from the people's coffer. They will increase the price of the house according to the loan given than truly based on the cost of the house plus their profits. This group of people just don't give a dam about sucking the blood of the hard working Malaysians. They would just stash their money overseas and would buy houses in London or Singapore. Maximizing their profit is their maxim. I would even suggest that the government lower the amount of loan that government employees could take. I believe this will result in the price of houses coming down.
| Malaysians need affordable homes |
2. The government should play a more active role in monitoring the price of houses in Malaysia and take concrete actions such as providing land at special prices to the developers so that they can build more affordable homes for the middle low and middle income groups. The price should not exceed RM 200 K. These houses however should not be a pigeon hole size but a reasonably comfortable homes with at least 3 bedroom and minimum area of 1000 sq ft.
3. The government should also stop unscrupulous people from buying and speculating prices of the affordable homes. They have to come up with regulations that would allow only married couples who earn less than RN 5,000 and buying their first house. Those who already own homes should not be allowed to buy another house until the economy has cooled down. Otherwise the bubble would just burst and that will bring down th economy as well, as what happened with the sub-prime rate in the United States. They should also increase the tax rate for Real Property Gain Tax (RPGT) and punish those who dabble with hot properties
| Crazy prices of houses in Malaysia |
4. The government must also ensure that the distribution of affordable homes must be open and accountable, We don't want a situation whereby most of these homes would only go too the people who support the ruling party and minus other Malaysians. Most of them (cronies) have already a number of houses and these new home should be given to the deserving ones without any discrimination. Buying a home is not a luxury but a necessity. Each one of us is entitled to a house in this country that we love.
I really hope the prices of houses in Malaysia will come down drastically I also hope that my children who are just coming up own their are able to buy their own houses house in the Bangi area. Nothing much that the parents would ask for other than to be closer to their children in their olden days.
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