A group of NGOs led by Parti Sosialis Malaysia (PSM) will protest against “skyrocketing” house prices outside the Ministry of Housing and Local Government in Putrajaya next week.

PSM secretary-general S Arutchelvan (right) told Malaysiakini the protest follows a roundtable discussion between PSM and about a dozen stakeholders in April, including the National House Buyers Association (HBA), Aliran and consumer associations.

“We came up with a proposal that we want to submit to the federal government. This is what we plan to submit on Aug 20, as well as to protest against the skyrocketing house prices.

“The main argument is that a house is a basic right but currently speculators are buying houses just to raise the prices high, making it a business,” Arutchelvan said.

The movement is being coordinated by the party’s central committee member and Sungai Siput MP Dr Michael Jeyakumar Devaraj, he said, and the protest will be held at 11am.

To a question, Arutchelvan said he is not sure how many would show up at the protest, especially since it is to be held on a weekday (Friday).

However, he said, 20 NGOs have endorsed PSM’s memorandum to the government so far and more are expected to join, while groups are also being mobilised to take part in the protest.

Among the groups endorsing the memo are Saya Anak Bangsa Malaysia (SABM), HBA, Dignity International, Aliran, Jerit, and the Kuala Lumpur and Selangor Chinese Assembly Hall (KLSCAH) human rights committee, he said.

According to figures from the National Property Information Centre (Napic), the housing prices are still on the rise, but the rate of that increase has been slowing down since the third quarter of 2013.

At that time, the annual rate of increase was 12.2 percent, compared with 9.6 percent in the last quarter of 2013, and eight percent for the first quarter of 2014. The Q1, 2014 figure is based on preliminary data.