|  | 

Property News

Over RM10b in SJKP loans approved since 2008, says local govt minister

KUALA LUMPUR (July 2): A total of 50,884 Housing Credit Guarantee Scheme (SJKP) loan applications worth RM10.894 billion have been approved from 2008 to April 30, said Housing and Local Government Minister Nga Kor Ming.
He said out of that number, a total of 11,422 applications with a loan value of RM2.51 billion had been approved until April 30 for the implementation of SJKP-Madani this year.
“Through this initiative, the government guarantees home financing of up to RM500,000. This includes the amount of principal financing, Mortgage Reducing Term Assurance (MRTA) or Mortgage Reducing Term Takaful (MRTT), legal fees and appraisal fees.
“Financing is limited to the first home. However, this financing is not limited to new homes only, but also includes homes in the secondary market,” he said.
He said this when winding-up the debate on the motion for the 2021 and 2022 Annual Report and Financial Statements of the Malaysian Human Rights Commission (Suhakam) for the Ministry of Housing and Local Government (KPKT) at the Dewan Rakyat on Monday.
Nga said KPKT continues to be committed to providing affordable homes to the people through the People’s Housing Project (PPR) and Rumah Mesra Rakyat (RMR) for the B40 group while Syarikat Perumahan Negara Berhad (SPNB) and PR1MA residences are for the M40 group.
He said since PPR was introduced in 1982 to date, as many as 202 PPR with 115,039 residential units have been approved for construction with 164 projects, involving 101,516 units, completed.
“Nineteen projects with a total of 7,517 housing units are still under construction while 19 projects involving 6,006 housing units are still being planned. Starting last year, KPKT set the selling price of new PPR unit with an area 750 square feet at RM45,000 per unit, while for rented PPR, the rental rate is set at RM200 per unit for landed houses and RM250 for strata houses including maintenance fees,” he said.
He said for the B40 group who own their own land or land belonging to family members who have been given permission, a total of 67,405 RMR residential units have been approved for implementation and of that total, 65,610 units have been completed, a total of 1,442 are under construction while 531 units are being planned.
“The Madani government bears a subsidy of RM20,000 for each affordable house unit so that the cost for house owner is lower than the market price and construction cost and it can benefit the B40 group,” he said.
Nga said for M40 affordable housing under SPNB, until May 31, there were 53 projects with 31,069 residential units approved to be built across the country and of that number, 48 projects covering 29,256 units had been completed while two projects with 351 units still under construction.
Looking to buy a home? Sign up for EdgeProp START and get exclusive rewards and vouchers for ANY home purchase in Malaysia (primary or subsale)!

Source: EdgeProp.my

Latest News


Your email address will not be published. Required fields are marked *

Name *

Email *