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Property prices across the Klang Valley are set to rise this year, but the Selangor government has assured that buyers of state housing projects will not face unreasonable price hikes. State executive councillor for housing, Borhan Aman Shah, emphasised that price increases will not be approved without justification.
He explained that if housing projects like Rumah Selangorku Harapan or Rumah Idaman exceed RM250,000, developers will be required to provide add-ons, such as furniture or appliances, to ensure buyers get value for their money.
“Developers face rising costs, but we will not allow price hikes without conditions. We ensure that any increase in price is accompanied by added value,” said Borhan.
To alleviate the financial pressure on developers, the state government has waived development fees for affordable housing schemes such as Rumah Idaman and Rumah Selangorku Harapan. This exemption, effective from last month, does not apply to open market projects.
State executive councillor for local government, Datuk Ng Suee Lim, highlighted that property prices in the Selangor Greater Klang Valley (SGKV) region are expected to rise due to increased investments. In 2024 alone, Selangor attracted RM70 billion in investments, significantly contributing to the area’s development.
Ng acknowledged the concerns of homebuyers but stressed that the government has introduced initiatives like Rumah Selangorku and Smart Selangor First Home Buyers, which offer affordable housing options ranging between RM250,000 and RM280,000.
He also noted that the Smart Rental scheme provides a pathway for individuals to rent a home first and buy it after five years, making homeownership more accessible.
While rising property prices are a concern, Ng pointed out that areas outside the SGKV, like Hulu Selangor and Kuala Selangor, are also experiencing rapid development. The growing automobile industries and community interest in rezoning agricultural land for industrial or residential use reflect the region’s economic potential.
The shift in lifestyle preferences is also influencing property demand, with families increasingly seeking quieter environments with better security and amenities. This trend is leading to accelerated investments in emerging hubs in southern and northern Selangor.
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