5% housing discount for all a fair move, say groups

GEORGE TOWN: The Penang government’s decision to give a 5% housing discount on overhang properties to all house buyers is well received by political parties and associations.

Penang MCA secretary Yeoh Chin Kah, in welcoming the move, said any policy introduced must be grounded in the principle of supporting vulnerable groups, rather than being based on racial or religious distinctions.

“It is vital that the state government exercises prudence and ensures fairness across the board,” he said.

He said the state must address the issue of oversupply in the mid-range housing segment with urgency.

“A downward price adjustment may be necessary to better align with the actual needs of the people,” said Yeoh in a statement.

“The 5% housing discount should be strictly reserved for vulnerable and genuinely qualified individuals, as they truly need the assistance,” he added.

Yeoh said it must not be misused or allocated indiscriminately to parties who may exploit the opportunity for speculation, thereby inflating property prices further.

“We welcome the state government’s willingness to recognise its shortcomings and take corrective action,” he said.

Yesterday, Penang Chief Minister Chow Kon Yeow said the state executive council decided to extend the discount to all buyers for a year under the Madani Home Ownership Campaign.

He said the discount is limited to developers who registered with the state in the campaign and those registered with the state Housing Board.

The Penang government cour­ted controversy earlier when it announced on June 5 that the 5% discount would only be given to Indian Muslims.

Penang MIC chief Datuk J. Dhinagaran said the state has made the right move to offer the discount to all rather than one particular community.

“Everyone should benefit from the programme as there are many who haven’t bought their first property, and this will be an opportunity for them to purchase one.

“Any policy created should be beneficial to all, which is the most logical thing to do for a fair and equitable society,” added Dhinagaran.

Penang Hindu Association president P. Murugiah said every group or community should benefit from housing programmes, and the state government’s decision to give a 5% discount to all was most welcome.

“People from B40 and M40 groups should benefit from this programme as many individuals face a lot of hurdles when purchasing their first property.

“This discount will help them save money, which could be used for other purposes such as fees for sales and purchase agreements,” he said.