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Malaysia urges ASEAN to rethink housing amid urban boom

Housing Minister Nga Kor Ming proposed three key initiatives, including establishing a regional housing policy lab, creating an ASEAN urban dashboard, and holding AREC annually to boost cooperation.

Malaysian Housing Minister Nga Kor Ming (Photo: thesun.my)
Malaysian Housing Minister Nga Kor Ming (Photo: thesun.my)

Kuala Lumpur (VNA) – Malaysia has called on ASEAN nations to rethink housing strategies in response to rapid urbanisation, economic volatility, and changing demographics.

Speaking at the ASEAN Real Estate Conference 2025 (AREC 2025) in Kuala Lumpur, Housing Minister Nga Kor Ming said ASEAN is facing a housing shortage, balancing affordability, inclusivity, and sustainability as urban populations surge. By 2045, 65% of ASEAN’s population is expected to live in cities.

The minister highlighted Malaysia’s rent-to-own scheme, which has helped push homeownership to 77%, as a model for balancing aspiration and access. He also noted shifting preferences among youth, with many choosing renting for greater mobility and financial flexibility.

He proposed three key initiatives, including establishing a regional housing policy lab, creating an ASEAN urban dashboard, and holding AREC annually to boost cooperation.

He stressed that ASEAN must act urgently to provide dignified homes for the region’s future urban population.

Held during Malaysia’s ASEAN chairmanship, the events are expected to draw over 56,000 visitors and position ASEAN real estate as a pillar of future growth./.

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