State Investment Committee chairman for Industry and Commerce, Small and Medium Enterprises and Transportation Teng Chang Kim was quoted saying in Nanyang Siang Pau that the 30 per cent Bumiputera equity condition for property ownership however, would be maintained.
These measures are part of the state government’s implementation of new guidelines for housing development, starting September 1, reported the daily.
Teng said the price of the three types of properties will henceforth be set by the state government.
“Under affordable housing guidelines, the highest price a serviced apartment can cost is RM270,000.
“Meanwhile, Soho and Sovo can sell for up to RM230,000 a unit. The ownership of these properties is open to everyone, regardless of their race,” he was quoted as saying.
Teng added that the household income requirements for applicants have also been increased to RM15,000 a month, from the previous RM8,000 a month.
“However, buyers with household incomes of less than RM10,000 will be prioritised. If they fail to secure loans, only then will the sales (of units) be extended to those earning more than RM10,000,” he said.
According to Teng, details of the new housing guidelines will be announced on Sept 1.
“The state government has spoken to developers in the state and taken in their feedback prior to drafting the guidelines.
“We believe the guidelines will pacify all parties involved, including the state government, developers and house buyers.”