Global Housing Crisis Pushes Renters Toward Action
Urban renters and first-time buyers should watch for affordable-housing and credit guarantee programs taking shape in countries like Malaysia.
Updated on Nov. 1, 2026 in Real Estate — General
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Malaysia's Nga Kor Ming called for stronger international cooperation on the global housing crisis at the opening of World Cities Day 2026 in Fuzhou, China, on October 31. Roughly 3.4 billion people worldwide face some form of housing inadequacy, and more than 1.16 billion live in informal settlements, including slums.
Why it matters
Rising housing costs and widening social inequality are squeezing renters, with 44% of urban renters worldwide spending an unsustainable share of income on rent. Malaysia's National Housing Policy 2026-2035 is framed as one answer, aiming for affordable, safe homes linked to transit and jobs.
Malaysia targets one million affordable homes between 2026 and 2035, supported by a RM60 billion Housing Credit Guarantee Scheme that helps 150,000 people without conventional income documentation secure financing. The figures are government targets and program scope rather than results already achieved.
The players
Nga Kor Ming
Malaysian minister who serves as president of the UN-Habitat Assembly and advocates for international cooperation on housing.
UN-Habitat
The United Nations agency for human settlements, which works on urban housing and sustainable city development worldwide.
The details
Nga, who is president of the UN-Habitat Assembly, delivered the keynote at the opening of the Global Observance of World Cities Day 2026, themed "Regenerating the City: Adequate Housing for All." The event was jointly organised by UN-Habitat, China's Ministry of Housing and Urban-Rural Development, the Fujian Provincial People's Government and the Fuzhou Municipal People's Government. He argued that governments must ensure housing is affordable, safe, well-connected to public transport and employment, and supported by public amenities.
Timeline
Sunday, October 31, 2026: Nga delivers keynote at World Cities Day 2026 in Fuzhou, China.
2026-2035: Malaysia's National Housing Policy period and target of one million affordable homes.
The Home Front
Malaysia's National Housing Policy 2026-2035 sets the domestic framework for the one million affordable home target discussed at the Fuzhou event. The policy links housing access to transit-oriented development and climate-resilient urban renewal.
If you rent, track whether your local government or housing authority announces affordability or credit guarantee programs modeled on national schemes. Compare your rent against your income now, since a large share of urban renters worldwide already spend an unsustainable portion on housing.
The takeaway
Housing affordability is becoming a shared global problem, so renters and first-time buyers should watch for national programs that reduce financing barriers. Keep records of your income documentation, since many credit schemes depend on it.
Further reading
For broader context on global housing markets and affordability trends, explore our Real Estate — General coverage.
Source note: This article includes information reported by The Star.
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