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You should know : "Affordable Housing Schemes in Malaysia"

The Malaysian government has introduced the low to medium cost housing categories in order to assist people to buy the first house with affordable price. Here are the affordable housing schemes available in Malaysia.

 

1)  Skim Rumah Pertamaku (My First Home Scheme)

SRP is a home ownership initiative that was first announced in the 2011 Budget by the Government of Malaysia to assist first time house buyers.Under this scheme, successful applicants are able to obtain full financing up to 110% when purchasing their first home. To qualify, the residential properties in primary and secondary market must be located in Malaysia with a maximum property value of RM500,000 and the buyers are required to live in the property.

Are you eligible?

  • Malaysian citizen
  • First time house buyer
  • Either self-employed individuals OR fixed-income employee
  • Gross monthly household income up to RM10,000 for single OR joint applicants
  • No record of impaired financing for the past 12 months

 

 

2)  Perumahan Rakyat 1 Malaysia (PR1MA)

PR1MA aim to plan, develop and provide affordable and high-quality homes inspired by modern living concepts for middle-income Malaysians. To qualify, PR1MA Home can be purchased as your first or second home only. PR1MA Home must be owner-occupied and no sub-letting will be allowed. The selection of successful homeowners and allocations of PR1MA house units will be carried out through an open balloting process for newly launched developments. Futhermore, the application is completely free of charge, no need to pay any registration fee!

Are you eligible?

  • Malaysian citizen 
  • Age 21 and above years old
  • Individual or combined (husband & wife) monthly household gross income between RM2,500 to RM15,000 

 

 

3)  Perumahan Penjawat Awam Malaysia (PPAM)

PPAM was launched in early 2013 and it is an affordable home schemes for government servants which emphasizes comfort in terms of design, size, quality, location and house prices that are appropriate for government servants. The sales price for the PPAM is ranging between RM90,000 and RM300,000 per unit to all civil servants are eligible. The offer prioritize to applicants who doesn’t own a house with a salary under RM 10,000 (individual).

Are you eligible?

  • All government servants, including Civil/Government employee working for the Government including Federal Government, State Government, Local Government, as well as Federal Statutory Body, State Statutory Body (either permanent or contract employee)
  • Malaysian citizen
  • Retiree who possess a government retiree ID
  • Child of a retiree who possess a government retiree ID

 

 

4)  Program Rumah Selangorku

Rumah Selangorku was introduced to provide affordable housing to Selangor residents and it aim to focus on lower to middle income group of Selangor residents in buying their first home. Under this scheme, the applications are categorised into six types A, B, C, D, E and E Khas with different requirements depending on the applicant’s (individual or combined) monthly household gross income. Type A = not more than RM3,500. Type B = not more than RM7,000. Type C = not more than RM10,000. TypeD, Type E & E Khas = not more than RM14,500. Each applicants are eligible to choose one type of house only.

Are you eligible?

  • Malaysian citizen and a resident of Selangor
  • Must be at least 18 years old
  • For first-time homebuyers only
  • Each household is entitle for one offer only

 

 

5)  BSN MyHome Youth Housing Scheme

BSN MyHome (Youth Housing Scheme) is an easy and simple to apply housing loan designed to help married youth to own their first home. The housing loan is calculated on a floating rate basis. Subject to BSN’s due diligence, applicants could be financed up to 100% of the purchase price for a maximum tenure of 35 years and also have the option to include MRTA insurance by adding 5%. Applicnats are allowed to choose to finance any type of properties, completed or under construction, ranging between RM100,000 and RM500,000 with this facility. Enjoy RM200 off your monthly instalments with aid from the government and other cost-savings features.

Are you eligible?

  • Malaysian citizen
  • Must be married youth aged between 21 to 45 years
  • Monthly household income doesn’t exceed RM10,000
  • Must be a BSN Giro or BSN Giro-i accountholder