Discover how Malaysia’s Prime Minister Datuk Seri Anwar Ibrahim plans to improve public housing and expand the rent-to-buy scheme in major cities.
Kuala Lumpur, 11 Sep 2023 – Malaysia’s Prime Minister, Datuk Seri Anwar Ibrahim, has unveiled plans to enhance public housing by shifting from the concept of ownership to residence, prioritizing safe and comfortable living.
An expansion of the rent-to-buy scheme is on the horizon to enable more diverse target groups to purchase homes.
Furthermore, initiatives for rental housing aimed at the less fortunate in major cities, similar to those implemented in Johor and Selangor, will be extended.
The ambitious Madani Inclusive Housing pilot project will be established to benefit target groups in Kuala Lumpur, major cities in Selangor, and Penang. This project encompasses 800 housing units with varying built-up areas, catering to the specific requirements of different target demographics. Additionally, there will be a focus on exploring the potential of inclusive retirement villages.
Anwar stressed the government’s unwavering commitment to addressing housing issues, considering it a top priority. Escalating housing prices and rents have placed a heavy burden on the populace. The government aims to construct 500,000 units of affordable housing during the 12th Malaysia Plan (12MP), with collaboration between the public and private sectors.
As of the end of the previous year, 108,373 units of affordable homes had already been constructed. Anwar believes that the transformation of public housing into a concept of residence, rather than mere ownership, will contribute to safer and more comfortable living environments. The rent-to-buy scheme’s expansion will enable a broader range of target groups to access homeownership opportunities. Additionally, initiatives for rental housing for vulnerable individuals in major cities will be expanded further.
Housing constitutes the second focal point of fostering a prosperous society, raising living standards encompassing spirituality, health, social cohesion, and bolstering the Madani society. The overarching theme, “Malaysia Madani: Sustainable, Prosperous, High-Income,” underscores the 12MP’s Mid-Term Review (12MP MTR). It comprises 17 “Big Bold” measures encompassing 71 primary strategies and initiatives, acting as principal catalysts to expedite socioeconomic development in line with Malaysia Madani’s vision.
