AS people improve their economic status, the price of affordable homes, too, has to increase to RM300,000, said Prime Minister Dr Mahathir Mohamad.

The government is facing difficulties providing affordable homes to those living in cities, as requests for affordable homes have increased, he said.

“Since the public’s economic status has increased, therefore, the price of affordable homes are below RM300,000,” he said in his speech when launching the Home Ownership Campaign (HOC) expo at Kuala Lumpur Convention Centre today.

He said the government is committed in ensuring enough affordable homes are provided under the National Housing Policy.

“There would be no meaning in a country’s development if the people live in poor houses that do not meet the minimum housing requirements.

“The government has to understand the people’s needs. If they need a house, the government, along with the private sector, will have to provide enough affordable homes to them, either for sale or rent,” he said.

He said the responsibility of building one million affordable homes nationwide is not limited to the Pakatan Harapan’s government as all stakeholders, including state governments, should play their part, especially in providing land for the development of homes.

He said developers should cooperate and be ready to invest for the development of houses for the people.

Dr Mahathir said buying property is a smart investment with long-term benefit.

“The value of properties will increase every year, in line with the property value at the location.

“With higher purchasing power, homeowners can make a decision to sell their property and buy a bigger house,” he said. – March 1, 2019.