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Government pledges low-cost housing will be affordable
Published on Wednesday, 20 February 2013 16:35
Yuzana Garden housing compound in Dagon Seikkan Township (Photo - Win Myint Kyaw/EMG)
Ministry of Construction is planning to provide loans nationwide to low-income people to purchase low-cost housing, Soe Tint, deputy minister of construction told Parliament on Tuesday.
The plan is meant to benefit people at the “grassroots level”, he said, adding that a monthly repayment system would be used to ensure low-cost housing was not beyond the reach of most people. The Ayeyawon and Yatanar low-cost apartment projects in Yangon’s Dagon Seikekan Township are pilot projects for low-cost housing, he said.
“The government is providing more than 60 billion kyats for basic infrastructure such as water sanitation system, electricity and social buildings,” Soe Tint said, adding that the government was open to suggestions from MPs on the pilot projects.
“The projects will be transparent,” he said.
The deputy minister said a burst of economic activity in Yangon was increasing demand for apartments and the city needed between 15,000 to 30,000 new units a year.
“We plan to construct low-cost apartments across the country. We are discussing with technicians here and overseas the best ways to construct low-cost apartment,” Soe Tint said.