Nowadays, it’s not easy to buy a home in Malaysia amid the rising cost of living. But good thing the Federal Government and state authorities have launched several affordable housing schemes to help out. Check them out below. You never know, you could qualify for one.
1. Perumahan Rakyat 1Malaysia (PR1MA)
Eligibility Criteria
Age: 21 years old
Monthly Household Income: RM2,500 to RM15,000
Property Price: RM100k to RM400k
Where to Apply: https://www.pr1ma.my/
The 1Malaysia People’s Housing Programme (PR1MA) is open to all Malaysians age 21 or above during the time of application. However, the individual or couple applying must have a total income of between RM2,500 and RM15,000. They also must not possess more than one property. Nonetheless, you can apply for a PR1MA unit as a second home. Even if one of the spouse is abroad, you can still apply but you must still comply with all requisites.
To apply for a PR1MA unit, go to their official website. Then click on “Daftar Sekarang” (Sign Up Now). To view all requirements for applying, please check this link.
Moreover, there is no registration fee when applying for a PR1MA home. Aspiring homeowners are also advised to directly apply at the official website. If you want to browse the locations of PR1MA developments across Malaysia, please visit https://sales.pr1ma.my/.
2. Residensi Wilayah
Eligibility Criteria
Age: 21 and above
Monthly Household Income:
- Up to RM10,000 for singles
- Up to RM15,000 for couples
Property Price: Up to RM300k
Where to Apply: https://residensiwilayah.kwp.gov.my
Previously known as RUMAWIP, this programme has been rebranded as Residensi Wilayah, a housing scheme catering to low and middle-income Malaysians born, working or residing in any of the 3 Federal Territories – Labuan, Putrajaya and Kuala Lumpur.
If you own a home outside the aforementioned areas, you can still apply as long as you don’t have a property in the Federal Territories. However, the scheme prioritises those without any property. Previously, the minimum age requirement was 18 but it was later raised to 21 to ensure the applicant can pay off the housing loan. Also, the population density of such projects were reduced from 1,200 residents per acre to 800 to 1,000 occupants per acre. To check the requirements, kindly visit the official website.
The Federal Territories Ministry plans to launch 10,000 units of Residensi Wilayah in 2019 and these are expected to be ready by 2021. Overall, the authorities are eyeing to build 80,000 units in five years.
3. My First Home Scheme (Skim Rumah Pertamaku)
Eligibility Criteria
Age: 35 and below
Monthly Household Income:
- Up to RM5,000 for single applicants
- Up to RM10,000 for couples
Property Price: Up to RM500k
Where to Apply: Participating banks. For full list, click here.
This scheme allows successful applicants to obtain full financing (up to 110%) when purchasing their first home, with Cagamas partially guaranteeing the loaned amount.
To qualify, the applicants must be first-time homebuyers, either self-employed or a fixed-income employee. The gross household income of single applicants must not surpass RM5,000 per month. For couples, it should not exceed RM10,000, subject to a RM5,000 cap per spouse.
To apply for this scheme, kindly visit any of the 22 participating banks. The loaned amount can be used to purchase completed homes or those under construction. To check if you’re eligible, please visit this link.
4. 1Malaysia Civil Servants Housing Programme (PPA1M)
Eligibility Criteria
Age: 18 to 60 years old
Monthly Household Income: Up to RM10,000
Property Price: RM90k to RM300k
Where to Apply: http://www.ppam.gov.my/
This is a low-cost housing scheme intended for government employees or civil servants only. Since 2018, the programme was opened to children of government pensioners, but only one per pensioner or one unit per household. Priority is given to first-time home buyers.
To be eligible for this scheme, applicant needs to work near the PPA1M development where he is applying for and should not own government quarters within the same area. The home buyer is also not declared bankrupt. Other requirements are listed on the official website. For every PPA1M unit, the government subsidises RM25,000 to RM38,000 depending on the property size, which ranges from 850 sq ft to 1,500 sq ft.
5. Rumah Selangorku
Eligibility Criteria
Age: 18 and above
Monthly Household Income: Up to RM10,000
Property Price: RM42k to RM250k
Where to Apply: http://lphs.selangor.gov.my
This affordable housing programme is meant for low- and medium-income families living in the state of Selangor only, particularly those without any property. Funded by the state government, the housing scheme is run by the Selangor Housing and Property Board (LPHS).
There are various kinds of houses to choose from. But Type A can only be purchased by households with a total maximum income of RM3,000 per month. As for Type B, C and D, these can only be bought by families with a household income of RM3,001 to RM8,000.
To know the requisites, please visit the aforementioned website. Moreover, before sending the completed online application, please double-check the selected development. Successful applicants will receive an offer letter from LPHS.
6. MyHome Scheme
Eligibility Criteria
Age: 18 and above
Monthly Household Income: RM3,000 to RM6,000
Property Price: RM80k to RM300k
Where to Apply: http://ehome.kpkt.gov.my/
Launched in 2014, the aim of this initiative is to assist low-income households working in the private sector to buy low-cost residences. It’s being overseen by the Housing Ministry and Department of National Housing.
To qualify, one must be a Malaysian citizen at least 18 years old. You must be buying your first house, and your total household income must range from RM3,000 to RM6,000. Depending on the location, the units are priced from RM80k to RM300k, with sizes spanning 800 sq ft to 850 sq ft.
One good thing about this programme is that if you’re among the chosen applicants, you don’t need to pay the typical 10% downpayment to purchase a residence. However, the federal government only provided an initial funding of RM300 million and the scheme only consists of 10,000 MyHome units throughout Malaysia. Thus, it’s unsure if there are still available units and if the government will continue the scheme.
(Written by G. Zizan, 15th October 2019)
