Budget 2026: Housing Credit Guarantee Scheme doubles to RM20bil to help first-time homebuyers
The Star, 10 October 2025
PETALING JAYA: Budget 2026 will see the Housing Credit Guarantee Scheme (SJKP) allocation double to RM20bil, allowing up to 80,000 first-time homebuyers, particularly gig workers and the self-employed, to secure financing, says Prime Minister Datuk Seri Anwar Ibrahim.
Anwar, who is also Finance Minister, said the move aims to help more Malaysians own homes, especially those without steady income or conventional payslips.
“The increased guarantee will help more gig workers and self-employed individuals realise their dream of owning a home,” he said when tabling Budget 2026 in the Dewan Rakyat on Friday (Oct 10).
He said RM672mil will be allocated to continue building affordable homes under the Residensi Rakyat and Rumah Mesra Rakyat programmes, with several projects expected to be completed next year to benefit about 33,000 residents, including at PRR Ayer Lanas in Jeli, Kelantan, and PRR Masai in Johor.
To make housing more accessible, the government will extend full stamp duty exemptions on transfer and loan documents for first-time home purchases priced up to RM500,000 until Dec 31, 2027.
To keep the housing market affordable and stable, a flat stamp duty rate of between 4% and 8% will be imposed on property transfers involving non-citizens and foreign companies, excluding permanent residents.
Aligned with the 13th Malaysia Plan (RMK13), Anwar said financial institutions will be encouraged to support rent-to-own and build-then-sell housing schemes to provide more flexible homeownership options.
To revitalise urban areas, a special tax deduction of 10%, capped at RM10mil, will be introduced for renovating or converting commercial buildings into residential units.
Anwar said over 3,300 dilapidated homes, including 380 for fishermen, will be repaired or rebuilt with an allocation of RM500mil.
Public Housing (PPR) facilities will be upgraded with RM143mil for maintenance of low- and medium-cost strata homes, including replacement of old lifts.
Nearly RM90mil will go towards improving basic infrastructure in Chinese New Villages and Indian settlements, and RM95mil will be used to repair and upgrade public toilets and parks nationwide.
“Socioeconomic support for PPR communities will also be strengthened through fire and water safety awareness programmes under Bomba Bersama Rakyat, as well as community sports activities such as swimming lessons, martial arts and recreation classes for senior citizens,” he added.