KUALA LUMPUR: Properties around public transport networks such as Mass Rapid Transit (MRT) should be sold at affordable prices as it can help young people reduce transportation costs.
Youth and Sports (KBS) Minister Syed Saddiq Syed Abdul Rahman said what was happening now was that most properties around public transport routes were being sold at high prices and not affordable to younger generation.
He said middle-class young working adults were now forced to travel far everyday to work and thus increased their daily expenses.
He said this was against the idea of public transport reducing public transport costs and increasing mobility rates.
“We will discuss with the related parties including the Ministry of Housing and Local Government (KPKT) to review this matter.
“What is happening now is the location of young people is not strategic and far away from their work location. Should there be such public transport links, it will help to facilitate young people who earn at least RM4,000 (per month).
“When they are living close to public transportation access, they can use and save on transportation costs. This is what we have to review,” he said after launching the Kunci Rumah Pertamaku programme here today.
Syed Saddiq said the ministry was in discussions with KPKT and property developers for joint developments around KBS’ assets.
This is in order to make KBS’ assets such as sports complexes be fully utilised by the rakyat and not abandoned.
“If there are real estate developments around KBS’ assets, this will definitely benefit the people. They can use the existing facilities.
“KBS will also work with the Ministry of Finance and Ministry of Education for financial awareness programmes for young people,” he said.
Meanwhile, FAR Capital chief executive officer Faizul Ridzuan said the Kunci Rumah Pertamaku programme would enable the low to middle income youths to become homeowners.
Faizul said the company was targeting 1,000 participants, from those who were interested in owning a home but did not know the process and tips on getting a loan and finding the right location.
He said out of that target, a total of 50 potential homebuyers would be provided with full assistance by the company.
“Within 12 months or less, we will make sure and help them to buy a house. We will identify their problems and help them get loans, among others.
“This is because most youths who want to buy a house have no understanding of residential ownership as well as a strong financial situation that causes their application to be rejected by the bank,” he said.