Malaysia’s real estate market is likely to start improving in the second half of 2018 (2H18) on the back of positive market sentiments, as well as high gross domestic product (GDP) growth forecast. Property players commented that although the market is softening right now, the value of transactions in the sector has increased in 1H17 compared to the previous year.
The affordable home segment, in particular, has been getting more limelight in 2018 as the property market in Malaysia is expected to be sustained by the segment over the next three years, with the country’s economy on gradual recovery since early this year. Yet, housing affordability remains a major concern not only in the country, but it is also plaguing key cities around the world. In 2014, it is estimated that 330 million urban households globally live in substandard housing or are financially overstretched by housing costs. In Malaysia, urbanisation and population growth have contributed to a shortage of affordable housing supply, seeing that in 2016, houses in Malaysia remained seriously unaffordable by international standards with a median multiple of 5.0. Bank Negara said the maximum affordable house price in Malaysia is estimated to be RM282,000. However, actual median house price was RM313,000, beyond the means of many households, where the median national household income is only RM5,228.
To tackle the shortage of affordable homes, Bank Negara Malaysia (BNM) deputy governor Shaik Abdul Rasheed Abdul Ghaffour had pointed out public policy as the most crucial element to be addressed, and not financing. They recently outlined five strategies to overcome the issue, including centralising affordable housing initiatives and setting up an integrated housing database and an applicant registry for planning and allocating affordable housing. Apart from that, Budget 2018 also gave the housing sector an allocation of RM2.2 billion, with over 50,000 units being prepared under the affordable housing programme and more financing programmes to help Malaysian citizens afford their first homes. Private developers too finally get a slice of the affordable housing pie as the popular PR1MA end-financing scheme is now extended to eligible private developers to help more Malaysians in purchasing their first homes.
This year’s Affordable Housing Conference 2018 therefore aims to continue addressing and finding solutions on the issues and challenges, and evaluating opportunities as well as trends on how to increase housing opportunities by providing a platform for exchange of knowledge, ideas and information among agencies, developers, and affordable housing professionals across the country and Asia Pacific region on sustainable affordable housing development in the country, through improved public policy, financing, development and preservation of affordable housing.""
• Reassessing the current policies in the delivery of affordable housing supply
• Examining the right approach toward having an integrated housing database and an effective urban planning according to states
• Promoting land banks for affordable housing and other opportunities to encourage developers to build more
• Building affordable homes through effective construction cost, quality and time
• Creating an appropriate delivery platform for housing in each city
• Addressing discrepancies between government and developers in order to take on more strategic approach in developing affordable projects throughout the cities
The Conference provides the chance to be fully updated on Affordable Housing by some of the most Senior Figures in the sector, whilst networking with the leading professionals in Housing from across the region. It will examine what affordable housing really is in 2018, what the Government legislation means, the current policies in curbing housing affordability and other alternatives and opportunities in store for targeted groups by focusing on key issues as listed below:
• Affordable housing agenda – How to be different in delivery and focused on quality
• Housing the nation using Islamic Finance and Sukuk Financing instruments
• Housing affordability and land use planning
• How affordable housing projects now can become a prime location later?
• Developing a thriving rental market as a viable alternative to home ownership
• Case study: Building homes cheaper and faster with Industrialised Building System (IBS)
• Rent-to-own (RTO) scheme – A viable option for affordable housing
• Affordable housing and sustainable design
• Developers’ approach to joint ventures & investment
• The need of centralised and affordable housing initiative and database to tackle the mismatch of supply and demand
This conference is specifically tailor made for:
Government Authorities & Ministries, Directors, Secretary Generals, Heads, O-fficers of:
• Affordable Housing
• Public Private Partnerships
• Urban Planning
• Economic Development
• Urban (Re) development
• Public Works
• Rural Development
Property Developers, Construction Firms, Contractors & Builders Chairmen, Presidents, CEOs, MDs, VPs, Directors, GMs and Heads of:
• Planning & Development
• Urban Planning
• Land Surveying
• Energy Efficiency
• Environment and Safety
• Legal and Compliance
• Building & Construction