The allocation of RM1.5 billion and a guiarantee of RM2 billion under the Housing Credit Guarantee Scheme in Budget 2022, that further amplifed the housing agenda for the low-income group, will encourage young people to own houses and boost the property market.

Housing and Local Government Minister Datuk Seri Reezal Merican Naina Merican said the budget outlined a housing-related landscape that was closed to the heart of the people.

He said the allocation of RM1.5 million for housing projects would of course involve the People’s Housing Programme (PPR), as well projects under Syarikat Perumahan Negara Bhd and Perbadanan PR1MA Malaysia.

“An allocation of RM2 billion provided through the Housing Credit Guarantee Scheme will provide access to financing to those who do not have proof of fixed income such as gig workers, small-time entrepreneurs, and farmers when buying houses.

“This will encourage young people to own houses, especially first-time homebuyers,” he told a press conference after a key handover ceremony for Residensi Pauh Permai yesterday.

Reezal said the ministry’s intention to further expand Malaysia Berdaya Huni’s aspirations to PPR residents was also given consideration in Budget 2022 with an allocation of RM30 million to provide internet facilities in 40 existing PPR

On the key handover ceremony, Reezal said Residensi Pauh Permai was one of the affordable housing projects developed by PR1MA, specifically for the M40 group in Penang.

“It has 1,017 units sold at affordable prices of between RM250,000 and RM275,000 and so far 985 units have been sold, nine units have been booked and another 23 units are still open for sale.

He said Residensi Pauh Permai is a new flagship project under the PRESTASI PR1MA programme that adds value to residential livability equipped with several features such as beautiful landscaping, constructive environment, high-quality recognition, and proactive community engagement. – Bernama

Source: New Straits Times/Bernama, 31 Oct 2021
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