Even government-based projects with houses categorised as ‘affordable’ should follow the present market price, according to Datuk S.K. Devamany, Deputy Minister in the Prime Minister’s Department.
A report by the Malay Mail quoted Devamany as saying, “This pricing is standard nationwide nowadays. Property prices will go up in time. It will have to follow the current property market evaluation.”
For example, the price of a two-bathroom and three-bedroom apartment ranging from 800 sq ft to 1,400 sq ft, which costs between RM150,000 and RM350,000, will appreciate in time.
He also noted that prior to starting a housing project, they need to consider four important factors affecting property prices namely shortage of prime land, rising construction cost, urban migration and the property’s earning power.
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http://www.jacklimproperty.com/prices-of-affordable-housing-to-follow-market-trends-devamany/
http://www.jacklimproperty.com/prices-of-affordable-housing-to-follow-market-trends-devamany/
Quote from PropertyGuru News 9 July 2012
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