HouzKEY enables prospective first-time homebuyers with an easy entry into property investment as one would only be required to pay a 3-month security deposit upfront.
Berjaya Land Bhd (BLand) is partnering with Maybank Islamic Bhd (Maybank) to offer HouzKEY, a home financing solution made available under the “Own A Home Campaign” for its project in Bukit Jalil, The Tropika, through its subsidiary company Berjaya Golf Resort Berhad.
Sited on 6.5-acre freehold land, The Tropika is a unique nature-inspired mixed development and lifestyle hotspot comprised of residential and commercial components that combine community living with city conveniences.
Under this solution, homebuyers get to enjoy an easy entry as they are only required to pay 3 months security deposit upfront. It is a homeownership solution that is designed for first-time homebuyers and upgraders who are eager to own a home now, without worrying about the upfront cost.
Furthermore, HouzKEY offers greater flexibility and better cash flow as prospective buyers can opt to stay first and choose to purchase the property within a 5-year period.
“We are delighted to be part of Maybank Islamic’s HouzKEY. With minimal initial cost and greater flexibility, this solution would enable a lot of upgraders and first-time buyers to own a home,” says BLand CEO Syed Ali.
Commenting on the project, Syed said, “The Tropika is a good property located at a strategic location and would be able to yield positive returns and substantial appreciation gain which translates into wealth accumulation for its homebuyers”.
“We are confident that young aspiring individuals who wish to own a home will embrace this well-thought financing solution. With HouzKEY, it is now possible for those at the beginning of their career to become a homeowner and this should contribute greatly towards the sales of The Tropika Bukit Jalil,” says Berjaya Property senior general manager Tan Tee Ming.
Tan explains, “Young people face challenges in obtaining higher loan margins hence making it difficult for them to own a property. However, with this innovative solution, one can stay in a premium unit via furnishing RM1,500 repayments per month for a property valued at RM617,000 for the first 2 years and evaluate before exercising the option to purchase.”
Maybank Real Estate Ventures managing director Sally Lye says, “We are pleased to have Berjaya Land onboard as a participating HouzKEY partner with its project (The Tropika).
Sally concludes, “The response and feedback that we have received for our product have been positive and we hope to continue paving the way for Malaysian homebuyers in their homeownership journey. As part of our mission in humanising financial services, it is important for us to be able to assist more and more Malaysians in securing their dream home.”
(19 August 2019)