Government to organise home ownership programme to help young adults own a home [NSTTV]
New Straits Times, 8 March 2022
https://www.youtube.com/watch?v=MNbL3YbehqU
KUALA LUMPUR: Difficulty in obtaining loans or 'barrier of entry' was identified as the main cause why young adults, aged 25 to 35 failed to own affordable houses, the Dewan Rakyat was told today.
To address the matter, Housing and Local Government minister Datuk Seri Reezal Merican Naina Merican said the government, through the ministry and the Finance Ministry, was planning to organise a Home Ownership Programme (HOPE).
The programme, Reezal said, would focus on four main elements namely Malaysian Housing Financing Initiative (IPPM), provision of housing, programmes and promotions.
"Through IPPM, programmes such as My First Home Scheme under Cagamas Bhd, Housing Credit Guarantee Scheme under Syarikat Jaminan Kredit Perumahan Berhad (SJKP) and rent-to-own (RTO) PR1MA are being finalised and will be enhanced with the cooperation of selected financial institutions to attract the B40 and M40 groups," he said.
Reezal was responding to a question by Datuk Mohd Fasiah Mohd Fakeh (Bersatu-Sabak Bernam), who asked whether the government has successfully been able to provide conclusive, practical and established housing projects that are affordable, especially for those aged between 25 and 35
Meanwhile, answering Fasiah's question on the response towards PRIMA housing projects nationwide, Reezal said as of December last year, 50 per cent or 17,543 buyers of PR1MA projects nationwide were young adults, aged 25 to 35.
"Last year, 34 per cent or 1,904 PR1MA homebuyers were from this group.
"This proves that the sale price offered by PR1MA projects is well-received among the young people," he said.
Housing and Local Government minister Datuk Seri Reezal Merican Naina Merican said the government, through the ministry and the Finance Ministry, was planning to organise a Home Ownership Programme (HOPE). - BERNAMA pic.
(Web source: https://www.nst.com.my/news/nation/2022/03/777957/government-organise-home-ownership-programme-help-young-adults-own-home)