00:01Home ownership has been a big part of Datuk Seri Amiruddin Shari's agenda as Selangor Mentri Besar.
00:07But in one of Malaysia's richest and most developed states,
00:11renting and owning a home is also among the most expensive,
00:14leaving many Selangorians asking whether that economic success is actually reaching them.
00:20Of course, the complaint is always high because we are the highest population ever compared with other states.
00:27Sarawak has a huge reserve for example, but their population is less than 3 million people.
00:34We got around 3 to 4 billion reserve, but our population is now 7.4, maybe 7.5 million people.
00:42Amiruddin says 174,000 affordable housing units are in the pipeline under the Edeman program,
00:49with over 50,000 already completed.
00:52We changed a bit the policy for housing. It's not forced people to own the housing,
00:58but to make sure they have a shelter before they are qualified to have a loan.
01:03So, better we prepare a housing for them to rent and stay with the comfortable housing plans created by the
01:12states.
01:12The issue is not the house. The issue is the qualifications to the loan affordability for the owner.
01:22So, the end financing is one of the issues.
01:24So, the best for the state now, we own the house. We try to buy the house.
01:28We will see the quality before we buy or before we own with certain policy that we have.
01:33For example, for the Idaman and Harapan, 15 to 20% of the house, they have to surrender to the
01:38states.
01:39So, from there, we collect 20, 30 or 50 units of house for every project based on the numbers of
01:45units they developed.
01:47So, from there, we slowly increase our numbers of house owned by the states and we manage to rent for
01:54them.
01:54Definitely, 2,000, 3,000 is not enough because the demand is just so high.
01:59But, slowly, we try to build and own the house to make sure that people have a plan for their
02:07housing ownership.
02:10Under the state's rent-to-own model called Smart Sewa, tenants rent state-owned units for four to five years,
02:16then get back 30% of what they've paid. Enough, Amiruddin says, to cover the 10% down payment banks
02:22require.
02:23He admits the state's growing role as landlord and lender is an unusually deep intervention,
02:29but says someone has to solve the affordability gap rather than pointing fingers at the banks.
02:34We are confident that our ecosystem and our system are quite sustainable
02:38and therefore that we are more rigorous to buy and own the house, to give a rental
02:44and at the same time set a plan for the people of Selangor to own the house.
02:53We are very close to the people of Selangor to account for their houses or the public.
03:00Let's go to Selangor.
03:00Let's go to Selangor.
03:00You can't be able to get out of the house, but we can't really see.
03:00We haveklash.
