New housing policies to help Penangites cope

loading Rifle Range is Penang's first low cost, high rise flats.

The Penang state government addresses housing affordability with a range of policy interventions. What can we expect as a result and what else can be done?

The Penang state government has introduced a range of housing policy interventions which came into force on February 1, 2014. These are intended to protect existing and emerging affordable housing stock from the wider housing market, curb speculation and help low income households into ownership. This article summarises these new policies and their expected outcomes, and explores further measures that can be taken to ensure successful implementation.

RISING PRICES

The Malaysian house price index tracks average house prices over time; in Penang the index for all houses has risen from 116.6 in the third quarter of 2003 to 218.2 by the third quarter of 2013 (provisional) – double the average house price in the past decade.


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