- MH370 Tragedy: Authorities hope to deploy more AUVs: Hishammuddin
- S. Korea Ferry Incident: Transcript shows ferry captain delayed evacuation
- Karpal Singh's Death: A picture of grief at the hospital
- MH370 Tragedy: Search to be most costly ever at US$100mil: analysts
- Karpal Singh's Death: Some mourners are still in disbelief
- Karpal Singh's Death: "I told him to only go back this morning", says Gobind
- Karpal Singh's Death: Lorry driver relates fatal accident
- Karpal Singh's Death: Bukit Gelugor MP killed in crash, son injured
- Karpal Singh's Death: Liong Sik describes Karpal as a cheeky student
- Everest Avalanche updates: 12 killed, 3 missing
- Don't be apologetic in defending national interests, media told
- UPDATE: 6 dead, 9 missing in avalanche on Everest
- NSTP wins big at MPI-Petronas Awards
- Public urged to take precautionary measures against MERS
- 7.5-quake rattles southern Mexico: USGS More
BELOW-MARKET-PRICE UNITS: govt looking at defraying infrastructure cost, says PM
KUALA LUMPUR: THE drive to build more affordable homes can accelerate further with the prime minister speaking yesterday of the prospect of developers building below-marketprice units.
Datuk Seri Najib Razak said the government was considering defraying infrastructure cost as an incentive for developers to build cheaper homes.
Najib had announced major housing initiatives in the 2013 Budget, including 1Malaysia Housing Programme Corporation (PR1MA) building 80,000 homes next year.
Yesterday, he said he had asked PR1MA to discuss with private developers to come up with another model.
He envisaged a situation where the government “can chip in, say, for the infrastructure cost, then the private sector can build more homes that are much lower than market prices”.
He was interviewed by Chui Ling and Jentzen Lim during an hour-long session on the Morning Boss breakfast show on Melody FM radio.
The question related to house prices in the Klang Valley.
Najib said looking at income and price levels over the years, houses were getting more expensive.
“We realise this is a serious issue and we need to find a solution.
“And the solution lies between looking at the demand and supply sides. We cannot just look at the demand side.
"We have done things like increasing the income limit for individual loans from RM3,000 to RM5,000 under the My First Home Scheme.
"For joint loans, they can go up to RM10,000, which means that you do not have to come up with the 10 per cent initial downpayment but you can get 100 per cent financing."
He acknowledged that the private sector could not build enough affordable homes because land was expensive.
On the 80,000 PR1MA homes, he said it would take at least two years for them to come into the market.
"We will open them up for registration as soon as we have identified land for them."
Najib said the 80,000 units would be built nationwide, including in Kuala Lumpur, Shah Alam, Kuantan, Seremban and Penang.