According to Datuk Othman Aziz, the Deputy Finance Minister I, Malaysian houses which cost approximately RM165,060 each, is classified as affordable for the median Malaysian household.
The statement was made during the recent 2017 Budget focus group meeting on affordable housing, which followed the 2017 Budget consultation.
Despite the steady increase of initiatives to provide affordable housing by the Government, the current level of house-building is yet to be able to cater to that demand.
In 2014, only 21% of residential projects launched in the country were priced at RM250,000 and below.
Datuk Othman Aziz related that this was due to developers being more attracted to building higher-end properties, which are sold at prices of above RM500,000 for each unit.
According to Datuk Othman Aziz, the disparity between the pace of growth in the supply of new houses and the net increase in the number of households is evidently more apparent throughout these five years, reflecting an impairing shortfall in affordable housing supply.