The Government recognises that every member of Keluarga Malaysia has the right to own a home as a necessity of life. Towards that end, the Government will continue housing projects specifically for low-income groups, with an allocation of RM1.5 billion.
This particular move in Budget 2022 will indirectly help ease the burden of potential house buyers, especially those who belong in the B40 category.
During Budget 2021, the Government allocated RM500 million to build up to 14,000 homes under Program Perumahan Rakyat (PPR) and RM315 million to build 3,000 units of Rumah Mesra Rakyat (RMR).
The Government has allocated RM2 billion under the Housing Credit Guarantee Scheme (HCGC). This was to help those without proof of fixed income. The Government is cognisant of the challenges facing gig workers, small business owners, and farmers in getting a housing loan.
In reality, many of these individuals have the capacity of repaying their loans but without documents proving of fixed income, the process of applying for a home loan is complicated. This initiative will not only benefit potential house buyers but also accelerate the growth of the local property market.
So far, BSN MyHome (Program Perumahan Rakyat) 2021 is one of the housing schemes in Malaysia intended to help people without any fixed income to own a house.
- Stamp duty exemption
- Rent-To-Own (RTO) scheme
- Program Perumahan Rakyat (PPR), Rumah Mesra Rakyat (RMR), dan PR1MA
- Perumahan Penjawat Awam Malaysia (PPAM) programme
- Home Ownership Campaign (HOC)
Presented by LBS Bina on 17 May 2022
Edited by Rebecca Hani Romeli