{"id":25641,"date":"2021-11-02T07:16:03","date_gmt":"2021-11-02T00:16:03","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=25641"},"modified":"2021-11-02T07:16:03","modified_gmt":"2021-11-02T00:16:03","slug":"malaysias-housing-scheme-sets-482-million-to-help-young-people-own-homes","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/malaysias-housing-scheme-sets-482-million-to-help-young-people-own-homes\/","title":{"rendered":"Malaysia’s housing scheme sets $482 million to help young people own homes"},"content":{"rendered":"

The Housing Credit Guarantee Scheme in Budget 2022 amplifies the housing agenda for low-incomers<\/span>\u00a0<\/span><\/p>\n

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The minister further added that \u201cThis will encourage young people to own houses, especially first-time homebuyers.\u201d\u00a0KhingChoy\/Shutterstock<\/figcaption><\/figure>\n

According to Bernama<\/a>,\u00a0MYR2 billion (USD482 million) under the Housing Credit Guarantee Scheme in Budget 2022 will further amplify\u00a0housing for low-income residents and encourage young people to own houses, in hopes to\u00a0boost\u00a0the property market.\u00a0<\/span>\u00a0<\/span><\/p>\n

Housing and local government minister Datuk Seri\u00a0Reezal\u00a0Merican Naina Merican said the budget outlined a housing-related landscape that was closed to the heart of the people.\u00a0<\/span>\u00a0<\/span><\/p>\n

\u201cAn allocation of MYR2 billion provided through the Housing Credit Guarantee Scheme will provide access to financing to\u00a0those\u00a0how do not have proof of fixed income such as gig workers, small-time entrepreneurs,\u00a0and\u00a0farmers when buying houses,\u201d he said.\u00a0<\/span>\u00a0<\/span><\/p>\n

The minister further added that \u201cThis will encourage young people to own<\/span> houses, especially first-time homebuyers.\u201d<\/span>\u00a0<\/span><\/p>\n

Other areas given consideration in Budget 2022 include the ministry\u2019s\u00a0intention\u00a0to\u00a0further\u00a0expand Malaysia\u00a0Berdaya\u00a0Huni\u2019s aspirations to People’s Housing\u00a0Programme\u00a0(PPR) residents, with an allocation of MYR30\u00a0million\u00a0to\u00a0provide internet facilities in 40 existing PPRs.\u00a0<\/span>\u00a0<\/span><\/p>\n

Reezal\u00a0mentioned in the key handover\u00a0ceremony\u00a0that\u00a0Residensi\u00a0Pauh\u00a0Permai\u00a0was one of the affordable housing projects developed by PR1MA, particularly for the M40 group in Penang.<\/span>\u00a0<\/span><\/p>\n

More: Malaysian ministry ensures better quality of life in public housing projects<\/strong><\/a><\/p>\n

He said, \u201cIt has 1,017 units sold at affordable prices of between MYR250,000 and MYR275,000,\u00a0and so\u00a0far,\u00a0985 units have been sold, nine units have been booked, and another 23 units are still open for sale.\u201d<\/span>\u00a0<\/span><\/p>\n

The project is under the PRESTASI PR1MA programme that adds value to residential livability, providing several features such as constructive environment, beautiful landscaping, high-quality recognition, and proactive community engagement.\u00a0<\/span>\u00a0<\/span><\/p>\n

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The Property Report editors wrote this article. For more information, email:\u00a0propertyreport@propertyguru.com<\/a>.<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Housing Credit Guarantee Scheme in Budget 2022 amplifies the housing agenda for low-incomers\u00a0<\/p>\n","protected":false},"author":12,"featured_media":25642,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[2438,983,125,512],"class_list":["post-25641","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-home-finance","tag-housing-scheme","tag-malaysia","tag-residential","news_country-malaysia","news_author-property-report"],"acf":[],"yoast_head":"\nMalaysia's housing scheme sets $482 million to help young people own homes | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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