“For now, the quota for affordable houses has been approved by the local council. With the amendment, it will come under the state government,” Very good initiative by Johor state government :) --------------------------------------------------------- Johor to increase affordable homes quota to assist citizens to buy their own houses JOHOR BARU: Johor will make some amendments to its Housing Enactment by increasing the quota of affordable priced houses in development projects. The Housing and Local Government chairman Datuk Datuk Abdul Latif Bandi said the changes in the Housing Enactment would see an increase in the current quota of affordable priced houses. “We want to ensure more people in Johor can afford to own houses,” he said at the topping up ceremony of Molek Pine Tower 3, a high-end condominium in Taman Molek recently. Abdul Latif said this would ensure that Johoreans would not be deprived from owning houses and at the same time attract high net income foreigners to make Johor Baru their second home. He said Iskandar Malaysia would be the main driving factor to attract investors to invest in the country’s first economic growth corridor. Also present at the event were Berinda Group chief executive officer Frank Goon and Global Asia Investment (GAI) CEO Fujimura Masanori. GAI had in 2011, purchased the tower block en bloc for wealthy Japanese clients who decided to make Johor Baru their second home under the “Malaysia My Second Home” programme. The company plans to develop “The Little Japanese” township in Taman Molek by attracting 2,000 wealthy Japanese to live, work or invest in Iskandar within the next two years. He said with the amendments in the Housing Enactment, developers would be required to build 40% of affordable priced houses in their projects from the present 20%, 30% or 35%. Abdul Latif said the affordable priced houses in the state were defined as landed or the high-rise properties with a price bracket of between RM150,000 and RM250,000. “For now, the quota for affordable houses has been approved by the local council. With the amendment, it will come under the state government,” he said Abdul Latif. He said the proposed amendments would be discussed at the state assembly adding that the new quota policy was expected to be implemented by year-end. Separately, Abdul Latif wants developers to play a more proactive role in promoting Johor as a second home to wealthy foreigners. -Starproperty 10 Jul 2013-
Posted on: Wed, 10 Jul 2013 06:12:33 +0000
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