Affordable homes for the middle class
29 SEPTEMBER 2012 | SOURCE: NEW STRAITS TIMES
THE much improved housing initiative unveiled by the prime minister in the Budget yesterday is not just about providing homes to the people, but demonstrates an entirely higher pursuit of home ownership and addresses a dazzling range of needs.
The 1Malaysia People's Housing Scheme (PR1MA) is about affordability and more. Housing is the starting point and catalyst for everything, from a desire for a better life, to soothing lifestyles, to pleasant locale, and ultimately serving as a means of wealth creation.
The idea was conceived by an exhaustive and sometimes draining discussion that lasted nearly two years.
The chief think tanker was Prime Minister Datuk Seri Najib Razak who tossed the idea of a sustainable and wholesome upgrade for the entire population. He argued that the perception of housing needs has somewhat been incomplete for serving limited goals rather than unlocking the full potential of Malaysians and the nation.
A strategic decision taken by PR1MA was to shift the definition of middle-income class from the RM3,000 to RM6,000 bracket, to RM2,500 to RM7,500, thus expanding the catchment of eligibility.
The reason for this is that those earning slightly lower and higher than the previous middle-income could neither qualify for previous low-cost home programmes nor high-cost homes. By expanding the bracket, we ensure a larger group of people such as bachelors, newlyweds and new families to be able to afford homes under PR1MA.
Rest assured, we are not going to hog the periphery of the housing industry. Instead, it will lodge at the heart of our national aspiration. After all, the project was undertaken with the demands of the people in mind.
For instance, in some cases PR1MA could well build a prominent tower or block in a new high-yield development by the private sector. In other instances, PR1MA shall build up a whole new township. Or, we will put up a stand-alone structure in a densely populated area such as Bandar Tun Razak.
In all this schemes, we shall endeavour to provide a range of amenities from childcare to playgrounds, clinics, supermarkets, and where possible, schools and parks.
There is a question of moratorium. Those owning a house under this scheme will not be able to re-sell it in the first 10 years. This is to ensure that the scheme is not exploited by parties looking to sell the homes at inflated prices after acquiring them.
PR1MA's aim is to sell quality houses at 20 per cent less than market value. By year end, we will launch the online national registration portal, where qualified applicants can submit their applications. Once they fulfil the criteria outlined, buyers will be selected through a balloting process.
PR1MA has already made road trips to all the states, telling their governments to believe in our vision of a bright new Malaysia, and to identify the land bank available for the endeavour.
In Perak, for example, the menteri besar has been urging us to look at central Perak from Manjung to Simpang Pulai with easy access to the highway and Ipoh city centre.
Additionally, we have engaged some 15 private developers with the assurance of financial incentives, so that they too can allocate areas to build similarly affordable homes.
The first phase of PR1MA, which will be concentrated in Seremban, will see the construction of 1,200 homes within the next two to three years.
The districts earmarked for development, for both landed and high-rise properties, include North Seremban, Seremban 2, Rasah and Senawang.
Ultimately, PR1MA is a project that taps into the trend of upward mobility and to cater to the needs of various segments of society, who are constantly aspiring to work harder, and aiming for better lifestyles.
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