Melaka: The state government will ensure that every new development, especially residential projects built in Melaka, undergoes a review of the selling price valuation before the project is implemented. Chief Minister Datuk Seri Ab Rauf Yusoh said the review will be conducted by the Valuation and Property Services Department (JPPH) through the State Land Subdivision and Partition Committee.
According to BERNAMA News Agency, the effort needs to be made so that the development carried out is in line with economic growth, job opportunities, housing needs, and the people's financial capacity. "For me, this is not just about the process or approval, but we want the price (of the residence) brought to the market to be truly reasonable, in line with the current value, and still within the reach of buyers." He emphasized that Melaka recorded the lowest house sale prices in Malaysia, as reflected in the National Property Information Centre Report for the first quarter of this year.
He made these remarks while delivering a speech at the inauguration of the Best Data Supplier Appreciation Ceremony of the National Property Information Centre (NAPIC) and the What's New Property Information System Malaysia 2.0 Southern Zone Seminar. The event was also attended by JPPH director-general Datuk Abdul Razak Yusak.
Ab Rauf highlighted that in the first six months of this year, Melaka recorded 8,661 real estate transactions worth RM3.1 billion, with the residential subsector remaining the main contributor via 5,479 transactions worth RM1.78 billion. He noted that the housing affordability ratio in Melaka is around 3.27 compared to the national average of 4.39, but this achievement is not a licence for the state government to feel complacent.
He also pointed out the challenge of maintaining the level of affordability as the market, development costs, and people's needs continue to change. The state government aims to increase the home ownership rate to 88 per cent by 2030, and the goal is for more people in Melaka not just to dream of owning a home, but to finally hold the keys to their own house. "For me, that is the true measure of the success of a housing policy, not how many houses we approve or build, but how many people can truly afford to own them," he added.