KUALA LUMPUR: The Urban Wellbeing, Housing and Local Government Ministry has urged all state governments to synchronise efforts to bring down housing prices nationwide, in order to alleviate the people’s financial burden. “We must work together to bring down house prices. He said there is a need for state governments to reduce their land premiums and development charges, which he said contributed to the rising cost of housing in the country. He said there were a number of factors that determined house prices, including the price of the land they were built on, and the land premiums imposed by the state governments. He urged all state governments to come up with more ways to alleviate the people’s financial burden, especially when it comes to purchasing homes.

Source: New Strait Times October 27, 2016 07:03 UTC