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M'sia short of 1m affordable houses by 2020, central bank estimates

Bank Negara Malaysia (BNM) warns that the country may face a shortage of one million units of affordable houses priced below RM250,000 by 2020.

"The housing market has not been able to provide an adequate supply of affordable housing for the masses. The undersupply of affordable homes is likely to worsen going forward given current trends in income and demographic factor," said BNM in its 2016 Annual Report released today.

This is despite multiple programmes by the private sector, the federal government and state governments to supply affordable housing, said BNM.

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