Affordable Housing

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EFFECT OF EXISTING HOUSING SITUATION

Market forces have been and continue to drive house prices upwards, making owning a house increasingly difficult for Sarawakians. These Sarawakians form a significant and growing percentage of the population who are not qualified to purchase Low-Cost Houses but are unable to afford buying a house at the current market rate.

With the exception of PR1MA which provides a limited number of houses, there is no special scheme/ provision to ensure that this growing group of people is provided houses within their respective financial capabilities. As a result, they are often forced to purchase houses beyond their budget.

The effect is two-fold:

1) Their spending power decreases; and
2) House prices continue to rise as people continue to feed demand

 

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