7 MIN READThe 10 best affordable Housing Programs in Malaysia (2021)

“According to Bank Negara Malaysia, Malaysia’s affordable housing price is RM282,000 based on the average household median income.”

This was the first headline Amelia saw when she browsed through Twitter after a Zoom meeting with her team.

Looking around her rented apartment in Kota Damansara, Amelia – a successful Social Media Manager working for an e-commerce company for 6 years and married for the two years, believes she and her husband are now ready to purchase an affordable home of their own. 

She clicks on the Google Chrome icon and starts researching her choices.


1. PR1MA

What does it offer? PR1MA properties range from RM100,000 to RM400,000.

Who is eligible?

  • A Malaysian citizen of more than 21 years old, with an average monthly household income of between RM2,500 and RM15,000.
  • They should own no more than 1 property.
  • The properties are allocated through an open balloting process.
  • Ideal for young adults who have just graduated or started working.

Any drawbacks? A 10-year moratorium imposed on the property – where you can’t sell or transfer your property to another party without prior approval from PR1MA.

Is PR1MA the one? Apply now!

 

2. RUMAWIP

What does it offer? RUMAWIP offers stratified studio an one, two and three-bedroom houses. These units are priced below the market price, targeted low to middle-income individuals. 

Who is eligible?

  • A Malaysian citizen, over 18 years of age, and living in Kuala Lumpur.
  • The buyer’s gross monthly household income must not exceed RM10,000 (for single applicants) and RM15,000 (married applicants).

What is the cheapest? The cheapest apartment is RM63,000.

What is the most expensive? Three-bedroom units which cost RM300,000.

Any drawbacks? You are not allowed to rent out their property – it has to be for their own use.

Is RUMAWIP the one? Apply now!

 

3. MYHOME 

What does it offer? Run by the Urban Wellbeing, Housing, and Local Government Ministry – the properties under are priced between RM80,000 and RM300,000.

Who is eligible? 

  • Must be a Malaysian citizen of over 18 years of age.
  • An average monthly household income of between RM3,000 and RM6,000.
  • Only one application is allowed per family – more families will have a chance to buy a house!

What is the advantage? Successful applicants don’t have to fork out 10% down payment to own the property –  let the government handle it.

Any drawbacks? The resale of this property is forbidden within 10 years.

Is MyHome the one? Apply now!

 

4. Rumah Selangorku

What does it offer? If you are renting or planning to reside in Selangor, Rumah Selangorku should interest you – a low-cost housing scheme catered to low- and medium-income families living in Selangor. 

Who is eligible?

  • Applicants are selected based on a merit system.
  • They will not be able to appeal if the application is rejected. 
  • Applicants that cancelled a successful application will get blacklisted for 2 years.
  • Having an average monthly household income of between RM3,000 and RM10,000.
  • They do not own any property in Selangor.

Any advantages? 7 types of houses under this scheme – each with different built-ups and priced between RM42,000 and RM250,000 each.

Any drawbacks? Resale for Rumah Selangorku houses is forbidden within 5 years, and owners cannot rent out these particular properties.

Is Rumah Selangorku the one? Apply now!

 

5. My First Home Scheme (Affordable Housing by Bank Negara)

What does it offer? Targeting young adults who have just started work and are interested in buying their first house.

Who is eligible?

  • Buyers should be below 40 years old.
  • An average monthly household income of between RM3,000 and RM6,000
  • Don’t own more than 1 property.
  • Only one application is allowed per family.

Any advantages? Successful applicants are entitled to access loan financing of up to 110% of the property price and make instalments via monthly salary deduction.

Is My First Home Scheme, the one? Apply now!


Read more;

Affordable housing: A simple guide

5 affordable properties in Klang Valley


6. E-Perumahan DBKL

What does it offer? Perumahan Awam DBKL offers public housing units consisting of studio units and 1-3 room units.

Who is eligible?

  • Only married borrowers can apply.
  • Low-income groups residing or working in Kuala Lumpur
  • They don’t own a home within 35 km from the city centre.
  • Renters can later purchase the home if they wish to do so

Any advantages? Wanting to live in Gombak 2, Kuang/Kenari, Seri Pangkor, and Seri Tioman 1? They are offering medium low-cost houses.

Any difference in requirements?

  • For low-cost homes: Household income of no more than RM3,000 a month
  • For medium low-cost homes: Household income of no more than RM4,000 a month

Is E-Perumahan DBKL the one? Apply now!

 

7. Skim Pinjaman Perumahan 

What does it offer? If you are from the low-income groups working in the private sector only and wish to have a home of your own, this is the one for you.

Who is eligible? 

  • You and your partner must be Malaysian, aged between 21 to 70 years.
  • A member of ONLY the private workforce
  • Do not own any other properties.
  • You or a member of your family own land
  • Household income between RM1,000 to RM3,000 a month.

Any advantages? Low-cost homes of 700-1000 sq ft, with at least three bedrooms and two bathrooms, a living room, and a kitchen.

Is Skim Pinjaman Perumahan the one? Apply here!


8.Youth Housing Scheme (Affordable Housing by BSN)

What does it offer? It is designed to help single or married youths own their first home with ease by offering to finance the purchase – be it completed, under construction or sub-sale property.

Who is eligible?

  • Must be a Malaysian citizen, aged 21 years to 45 years old
  • Single or married with a household income not more than RM10,000 per month
  • First-time house purchaser
  • BSN GIRO / GIRO-i account holder
  • Proof of property purchase

Any advantages? Up to 100% of the property purchase price/market price.

Is Youth Housing Scheme (BSN) the one? Apply now!

 

9. Rumah Mesra Rakyat (RMR)

What does it offer? If you from the lower-income earners such as fishermen, farmers, low-income families without a place of residence or run-down homes –  this program gives you access to land, to build and own comfortable, affordable homes.

Who is eligible?

  • Malaysian citizen of 18 years old and above
  • Monthly household income below RM5,000
  • Applicant and spouse do not own any property OR owns a run-down house.
  • Owns a suitable land that is free from mortgage/burdens
  • Land size must be bigger than 3,600 sqft.
  • Subject to financing budget

Is Rumah Mesra Rakyat the one? Apply now!

 

10. Youth Transit Housing (MyTransit) by KPKT

What does it offer? The Ministry of Housing and Local Government (KPKT) introduced the scheme to provide housing for single and married youths in the B40 and bottom M40 range.

What is the difference to other schemes? The MyTransit Scheme provides properties for rent instead of for purchase. The rental rate for these properties is promised to be at least 20% lower than the market rate.

What are the advantages? This scheme stands out due to the ‘forced savings’ – a percentage of the monthly rental will be set aside and returned to the tenant as a lump-sum after their maximum five-year stay.

When will it happen? This scheme will see 2,010 studio home units built-in Mukim Batu and Kepong, Kuala Lumpur, with the estimated completion date in 2022.

Is Youth Transit Housing (MyTransit) the one? Apply now!


Too many to choose from in finding the home of your dreams? Seek us out to assist you in the perfect affordable housing meant just for you.

Our professional team will help you make the right choice, so leave your details below, and we will contact you soon!

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