Melaka affordable housing expo offers 8,286 houses worth over RM2 bil

MELAKA - A total of 8,286 houses with an estimated sales value of RM2.276 billion are up for sale at the Melaka Affordable Houses Expo here from today until Sunday.

Chief Minister Datuk Seri Sulaiman Md Ali said the houses being offered at the largest expo in Melaka comprise low-cost houses, low-medium-cost houses, Melaka youth houses, and affordable houses priced between RM70,000 and RM180,000.

"As of Dec 31, the Valuation and Property Services Department of Malaysia (NAPIC) reported that Melaka still maintains its status as the state that offers the lowest price for houses in Malaysia, at an average RM209,472 compared to the national average price of RM432,445.

"As such, the state government will continue with its agenda to develop affordable homes, as it has achieved commendable results,” he told reporters after opening the expo at Bandar Hilir here today.

The three-day expo has attracted the participation of 12 housing developers, two financial and home financing institutions, and six government agencies.

Sulaiman said the state government is also targeting home ownership in the state to touch 88 per cent by 2030, which means 3,982 houses will have to be built a year to achieve the target.

He said based on a report by the Statistics Department, Melaka’s home ownership stands at 83.5 per cent, which is higher than the national rate of 76.9 per cent.

"The state government will ensure that the price of houses in the state remains relevant and affordable even though everyone is aware of the increase in raw material prices, especially in the construction sector, which affects house prices.

"This is something that is unavoidable but has to be addressed the best we can, with the involvement of the government and housing industry players,” he said.

He said according to NAPIC, Melaka has 630 units of completed houses valued at RM254.47 million which have not been sold. - BERNAMA