31 Jan '18, 8am

Housing affordability: Neither BN nor Pakatan can point to stellar record

Influx of easy money with quantitative easing in the US led to hot money pouring into the property market here Influx of large numbers of foreign buyers eg Singapore property players and China buyers Low interest rates prompt buyers to buy in the hope of achieving a higher return Quandrupling of densities in Penang from 30 homes/acre to 128 homes/acre pushed up land prices across the state. These higher densities were supposed to encourage developers to build more affordable homes, but did that happen? Allowing reclaimed land to be treated as freehold (when there is a strong legal argument for treating them as leasehold) further pushed up land prices Higher land prices, accompanied by higher densities, have both contributed to higher house prices Sale of state land to developers for mostly high-end housing instead of state development corporations managing it. Planning for...

Full article: http://anilnetto.com/society/housing/housing-affordabilit...

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