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Property News

For youth group, 86% of loan applications approved under Housing Credit Guarantee Scheme — deputy minister

KUALA LUMPUR (Dec 7): A total of 26,645, or 86.43%, out of 30,841 loan applications were approved for the youth group under the Housing Credit Guarantee Scheme (SJKP) from 2008 to Sept 30 this year.
Deputy Local Government Development Minister Akmal Nasrullah Mohd Nasir (pictured) said the SJKP had provided RM5 billion in loan guarantees, and under the Madani Economy Framework, it was further enhanced with an additional fund of up to RM5 billion.
“Under Budget 2024, the government also agreed to increase the loan guarantee up to RM10 billion.
“This financing is for first-time homebuyers, including youth who do not have a fixed income or salary statement, such as those in the gig economy. However, the financing is not limited to purchases of new homes only, but includes existing homes or those on auction,” he said during a question-and-answer session in the Dewan Negara on Thursday.
He said this in response to a question from Senator Professor Tan Sri Dr Mohamed Haniffa Abdullah, who wanted to know the strategies and measures undertaken by the Ministry of Local Government Development to increase homeownership among the youth, as well as to ease the burden of rental cost to suit the current standard of living.
In the meantime, Akmal Nasrullah said that until Oct 31, a total of 162 People’s Housing Projects (PPR), under the ministry’s supervision, had been completed involving 100,696 housing units.
“Based on records, until 2022, of the 8,382 PPR rented and rent-to-own housing units that had been filled, the largest category of heads of household was those between the ages of 31 and 40 at 35.90% or 3,013 people,” he said.
“Meanwhile, as many as 41,675 units, or 65% of the 64,115 Rumah Mesra Rakyat housing units that have been built, are owned by youth,” he said.
As for housing units under Syarikat Perumahan Negara Bhd, he said that as of Oct 30, the youth group owned 17,895 units out of the total of 25,708 units sold.
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Source: EdgeProp.my

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