Real Estate Updates: Zahid agrees Government should intervene to control Prices of Houses

KUALA LUMPUR, March 3 (Bernama)– Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi said today he agrees the government should intervene to control house prices for the benefit of the low-income group.

“I agree that the government should intervene to control house prices … not allow market forces to determine them, for the good of the low-income group,” he said in a post on his Twitter account.

On Wednesday, he said the government agreed to review the National Housing Policy pertaining to prices of real estate to allow for the government to determine instead of market supply and demand.

Ahmad Zahid said the government via the Urban Wellbeing, Housing and Local Government Ministry could undertake prudent price control by considering elements such as location and type of houses.

The minister, Datuk Abdul Rahman Dahlan, announced that the ministry would introduce two new approaches in making available affordable houses.

He said the approaches would enable more people in the low- and middle-income group to own houses and allow the government to effectively manage the supply of and demand for such houses in the market.

Source: Bernama

Published on: March 3rd, 2016

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