KPKT to provide real-time data on residential glut

pic by BERNAMA

THE Housing and Local Government Ministry (KPKT) will be conducting a study and analysis on the state of supply and demand of residential projects to address the property glut in the country.

Minister Zuraida Kamaruddin (picture) said the study will begin in the first quarter of 2021 and the data will be used as a guideline in drafting more comprehensive policies at the federal and state levels.

“There is a heavy overhang in residential property caused by poor planning of projects and unsuccessful housing loans.

“Currently, property developers do not have data on demand estimation for residences to guide their projects,” she told the Dewan Rakyat yesterday.

Zuraida was responding to Datuk Ahmad Jazlan Yaakub (Barisan Nasional-Machang) who questioned about measures taken by the ministry to monitor property developers in launching housing projects and avoid property overhang issues.

Citing data from the National Property Information Centre, Zuraida said 31,661 unsold units valued at RM20.03 billion were recorded in the first half of 2020 (1H20), which is a 3.3% increase from 30,664 units in 2H19 valued at RM18.82 billion.

The minister said data from the study will also contribute to the Housing Integrated Management System (HIMS) — a real-time data developed by the ministry — in allowing better access to information on housing development.

“The ministry is developing a real-time big data system to guide developers in launching new residential projects,” she said.

Zuraida said HIMS will include inputs from contractors and developers, such as data on licence issuance, project control and monitoring, as well as the enforcement and housing ownership under private projects.

She added that the data management system is expected to be completed in the middle of 2021.

Meanwhile, in her winding-up speech for the Supply Bill 2021, Zuraida said the ministry will extend the moratorium of the rental and rent-to-own (RTO) schemes for the People’s Housing Project (PPR) houses until March 2021.

“March to September this year was our first phase in giving the moratorium for these PPR houses, and we are currently in the process to execute the second phase, which will end in March next year,” she added.

Between March and September this year, 3,636 units of PPR houses under the rental scheme were given the moratorium, involving RM3.71 million, while the RTO scheme recorded 4,650 units involving RM6.67 million.

“KPKT encourages moratorium to be given to other public housing under other state governments and local authorities to help those who are affected by the Covid-19 pandemic,” she said.