4,100 HOMES NEED TO BE BUILT EACH YEAR IN MELAKA TO MEET HOME OWNERSHIP TARGET

MELAKA, Nov 21 (Bernama) -- Melaka needs to build at least 4,100 new housing units each year to achieve its target of 88 per cent home ownership by 2030.

Melaka Housing Board (LPM) executive director Datuk Murad Husin said the target, set in 2020, aligns with policies aimed at improving public access to affordable housing.

“So far, Melaka has maintained this average annual construction rate, even during challenging periods such as the COVID-19 pandemic.

“Alhamdulillah, the performance in new housing construction remains satisfactory, and we are confident that the target can be achieved,” he told reporters after the launching of the Melaka Affordable Housing Expo (RMM) 2025 here today.

The event was launched by Housing, Local Government, Drainage, Climate Change and Disaster Management Committee deputy chairman Datuk Zulkiflee Mohd Zin.

Murad said the expo brought together 13 developers and seven related agencies, including financial institutions and the Housing Credit Guarantee Scheme (SJKP), to assist eligible buyers.

He said a total of 1,160 home ownership units were offered at this year’s expo, but purchases are subject to basic conditions, including LPM approval and compliance with first-time homebuyer criteria.

“We prioritise those within the specified income range to ensure they have the opportunity to own their own homes. Some buyers have payslips but are ineligible due to high financial commitments, and this is where the SJKP helps them secure financing,” he said.

He added that Melaka continues to offer the lowest average residential prices compared with several other states, attracting interest not only from locals but also from buyers outside the state.

-- BERNAMA