Practical Solutions for Expats to Tackle the Housing Crisis

The housing crisis is a significant issue affecting expats around the world. With rising housing costs and limited affordable options, finding suitable and affordable housing is becoming increasingly difficult. In this article, we will explore some practical solutions to the housing crisis that can be implemented by individuals, communities, and governments. Our goal is to provide clear and understandable information for everyone concerned about the housing crisis.

Government

Real Case: Malaysia’s My Second Home (MM2H) Program

In 2002, Malaysia’s My Second Home (MM2H) program supported expatriate immigration by offering long-term visas and tax incentives, making housing more accessible and affordable.

The government, as the most powerful driving force, implements affordable housing programs and can most effectively provide assistance to foreigners in need.

Building Affordable Housing

One of the most direct ways to provide affordable housing is to build affordable housing. These developments can be strategically located in areas with good access to public transportation, employment opportunities, and community services, ensuring that expats not only find affordable housing but also seamlessly integrate into their new communities.

Providing Housing Subsidies and Benefits

One way to address the expatriate housing crisis is to provide housing subsidies and benefits, but it should be noted that subsidy policies should be tailored to income levels. Programs can be designed for different income groups to ensure that assistance reaches those who need it most.

Collaborating with the Private Sector

In 2017, the Saudi Ministry of Housing launched the "Sakani" program, which includes cooperation with 7 banks and financial institutions to provide housing loan support for citizens working in the government and military, retired military personnel, and private sector employees over the age of 50.

Ensure Accessibility and Safety

An important aspect of these programs is to ensure that the housing options provided are not only affordable but also safe and accessible.

Community Aspects

Communities can take the initiative to address the expat housing crisis through measures like forming expat cooperatives. These cooperatives enable expats to collectively invest in buying or renting properties, offering both affordable housing and a supportive community network.

On a Personal Level

Rental and Rental Options

For expats who are unwilling to commit to a long-term lease or purchase, exploring short-term rental and rental options can be a practical solution.

Finding Housing Assistance from Embassies and Consulates

Embassies and consulates can play an important role in assisting expats facing housing challenges.

Use the Power of the Media

Foreigners also share subletting and renting information through Facebook groups. This way, they can find rental properties and tenants willing to share the rental.

In Summary

The housing crisis affects expats of all ages and backgrounds. By implementing practical solutions such as housing subsidies, co-housing, affordable housing programs, rental and leasing options, community solutions, assistance from embassies and consulates, and policy advocacy, we can create a more affordable and sustainable housing environment for expatriates. Let us work together to overcome the housing crisis and build a better future for all expatriates around the world.