By Khairie Hisyam
With the housing minister saying that 80% of Malaysians can only afford houses at RM300,000 and below, why is PR1MA’s ceiling price some RM100,000 higher than that figure?
According to its website, PR1MA’s mandate is to cater to the housing needs of the middle-income group, defined as households earning between RM2,500 and RM7,500, with affordable homes priced between RM100,000 and RM400,000.
When asked by KiniBiz at a media briefing today, PR1MA chief executive officer Abdul Mutalib Alias explained that the ceiling price only marks the top end of the price range and pointed out that no PR1MA product has breached the RM350,000 mark so far.
“We set a range as a range,” said Abdul Mutalib. ““We envisage there could be circumstances going forward that there could be demand for houses with bigger space, so if (PR1MA) were to accommodate such demand, then we reckon the price would be slightly higher.”
“But it is also our responsibility to make sure that when we negotiate with the developers who come forward to see us, the product we get is suitable to (PR1MA’s) target group,” said the PR1MA CEO, stressing that most PR1MA products are priced around the RM300,000 mark.
Abdul Mutalib Alias
Abdul Mutalib also expressed his surprise on hearing recent claims that PR1MA’s products are priced at RM450,000.
“For some reason it’s written in the papers that PR1MA’s products are priced at RM450,000,” said Abdul Mutalib, confirming that the ceiling price is still at RM400,000. “I have no idea where that (figure of RM450,000) came from.”
Minister of Urban Wellbeing, Housing and Local Government Abdul Rahman Dahlan said yesterday that 80% of Malaysians — who earn below RM6,954 per month —can only afford houses priced at RM300,000 and below based on the credit line of 30% at the current base lending rate (BLR) of 6.60%.
Noting that just 31.7% of all new housing units launched in 2012 were priced below RM250,000, Abdul Rahman said there is a 40% gap between supply and demand for affordable housing to the middle income group.
Biggest demand in Klang Valley
Ar Aminuddin Abdul Manaf
During the media briefing, PR1MA chief operating officer Ar. Aminuddin Abdul Manaf said today that based on demand, Selangor leads the way with the highest demand, with Kuala Lumpur in second place.
Third is Johor followed by Sabah, Sarawak and Penang, all three being quite equal in terms of demand. “So we are focusing on those areas (first).”
Aminuddin also reiterated that PR1MA developments are guarded, gated and maintained by the corporation which will charge a minimal fee.
“Under the maintenance program, we have both physical and social maintenance,” said Aminuddin, explaining that the physical maintenance allows PR1MA to keep its products’ value from depreciating.
“We also maintain the social structure to ensure the community will live in harmony and in an environment that is sustainable,” added Aminuddin.
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