Penang reduces affordable home prices by 10 pct

The Penang state executive council has approved measures to ease the cost of living by reducing affordable home prices. The new ceiling limit for the homes will be RM270,000 on the island and RM225,000 on the mainland.

"Affordable home prices will be reduced by 10% over the period of one year," said Penang executive councillor Jagdeep Singh Deo.

He said the state's economy has been adversely affected by the Covid-19 pandemic and to remedy the situation, amendments were made to...