Malaysia Leads ASEAN In Expanding Affordable Housing -- Juwai IQI

KUALA LUMPUR, Feb 18 (Bernama) -- Malaysia is an ASEAN leader in successfully expanding access to affordable housing, though it has limited resources to dedicate to the segment, according to Juwai IQI.

Its co-founder and group chief executive officer Kashif Ansari said Malaysia with a population of 34 million and gross domestic product (GDP) per capita of RM51,001, still managed to spend a significant amount, where the country dedicated RM2.85 billion on affordable housing annually.

“All this spending is having an impact, with Malaysia very likely to achieve its 12th Malaysia Plan target of building 500,000 affordable homes by 2026.

“That number seemed too ambitious when it was announced, but 443,259 units were completed by last September, meaning fewer than 60,000 must be built in 2025 and 2026,” he said in a statement.

Compared to other ASEAN countries, Kashif said Malaysia’s government is very committed to housing accessibility, given the forecast that 1.4 million people will move to the country’s cities by 2030.

He said Malaysia allocated about RM2.85 billion for affordable housing in 2024, less than six other ASEAN countries while three others spent essentially nothing.

bootstrap slideshow

“That comparison reveals affordable housing is a critical national priority in Malaysia, but not everywhere in ASEAN.

“Malaysia’s affordable housing efforts are competitive in other ways, too. On a per capita spending basis, Malaysia outspends five ASEAN peers and ranks in the top five performers,” he said.

Looking forward, Kashif said Malaysia’s scalable and sustainable approach ensures it can make steady progress on housing without overburdening government finances. 

“I think Malaysia is in an excellent position to expand its efforts by leveraging economic growth and smart urban planning to further improve the affordable housing supply,” he said.

-- BERNAMA