More Good News on My First Home Scheme

 

It is sad to say that most of the homes being launched today are beyond the reach of many Malaysians, especially those who are early in their careers. The gap is set to widen as a larger percentage of Malaysians enter the age of employment year after year.

We can’t blame the developers, it is natural for developers to reap as much profit from their landbank. The result: a vast majority of Malaysians just cannot afford to fork out that kind of money to buy a house. Not to mention, to keep up with the escalating cost of living at the same time.

In short, our household income simply cannot accelerate at the same pace with the rising of housing prices.

myfirsthomescheme

 

Therefore the Government is now looking to step in and fulfill that demand gap by coming up with two affordable housing schemes ranging between RM100,000 and RM300,000 for Malaysians who do not yet own a home.

According to Housing and Local Government Minister Datuk Chor Chee Heung, middle class Malaysians who are aspiring to buy a home will soon be able to do so once a new Government-led initiative to build apartments costing less than RM300,000 in major cities is launched this year.

The affordable housing scheme, which is an addition to the My First Home Scheme for units costing between RM100,000 and RM220,000, will see stratified units priced between RM220,000 and RM300,000 being built for those with a household income of less than RM6,000 a month and who do not yet own a house.

Both those schemes which will cater for households earning under RM3,000 a month and RM6,000 a month, which together would form the bulk of Malaysians today.

“The Government will do whatever it can to ensure the lower income group will have a house and the medium income group will have a chance to buy a property of their own,” he said in an interview with The Star.

The plan was for units to be between 850 sq ft and 1,000 sq ft and each apartment would have a minimum of three rooms.

The ceiling price of RM300,000 will be for units built in Kuala Lumpur, Penang and Johor Baru and the price will be lower in other parts of the country.

It was revealed that a portion of the redevelopment of the old Sungai Besi airport development which is called Bandar Malaysia would be carved out to build affordable homes for Malaysians.

With the higher income group target, it’s a good news and I can see more Malaysians qualified for the scheme. I suppose many are now eyeing Sungai Besi airport. I hope this scheme will really help the needy rakyat.

If you hear any news of My First Home Scheme launches, kindly share and message me ya. My brother is now qualified to buy :)

 

(sources from The Star, 29 June 2014)


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One Response to More Good News on My First Home Scheme

  1. It is indeed a good move, everyone can have the opportunity to own a home.

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