Call to ex­tend PR1MA spe­cial end-fi­nanc­ing scheme

The Sun (Malaysia) - - NEWS WITHOUT BORDERS -

GE­ORGE TOWN: The Spe­cial End-fi­nanc­ing Scheme for 1Malaysia Peo­ple’s Hous­ing Projects (PR1MA) should also be ex­tended to houses built by the state gov­ern­ments and pri­vate sec­tor, said Pe­nang Hous­ing, Town and Coun­try Plan­ning Com­mit­tee chair­man Jagdeep Singh.

He said low-cost (LC), low-medium cost (LMC) and af­ford­able units were built by state agen­cies and pri­vate devel­op­ers as part of com­pli­ance re­quire­ments for devel­op­ment projects.

He ex­pressed his dis­ap­point­ment and urged the fed­eral ad­min­is­tra­tion to al­low the scheme to be en­joyed by ap­pli­cants of LC, LMC and af­ford­able hous­ing projects.

He said af­ford­abil­ity should also mean ac­ces­si­bil­ity for those who qual­ify for LC and LMC units, priced be­tween RM42,000 and RM72,500, and noted hous­ing loan re­jec­tions for this group was about 70%.

“The scheme should be ex­tended to them to make hous­ing ac­ces­si­ble for those in the lower-in­come group,” he said at a press con­fer­ence yes­ter­day af­ter at­tend­ing a fundrais­ing event for the Pe­nang An­i­mal Wel­fare So­ci­ety.


He said most of the mea­sures, while pos­i­tive, will take some time to have an im­pact on the mar­ket. “We need to ad­dress the sit­u­a­tion now. The un­der­sup­ply in the af­ford­able homes sec­tor and prop­er­ties for B40 is hap­pen­ing right now,” he said, adding that prop­erty trans­ac­tions have been slow for five years.

Shanker said the 100% stamp duty ex­emp­tion for first-time buy­ers of houses priced RM300,000 and be­low is a good move as it would help young

Jagdeep said he will bring up the mat­ter with the Ur­ban Well­be­ing, Hous­ing and Lo­cal Gov­ern­ment Min­istry dur­ing the quar­terly meet­ing with state hous­ing ex­cos.

The scheme was an­nounced by Prime Min­is­ter Datuk Seri Na­jib Razak in the 2017 na­tional bud­get. Ap­pli­cants can en­joy loans of up to 90% of the pur­chase price un­der the scheme for PR1MA homes. – by Aaron Ngui

RM4 bil­lion RM70 Al­lo­ca­tion slashed month month. RM450 mil­lion RM122 mil­lion RM54 mil­lion RM200,000 RM1,000 RM1,000 RM1,000 RM300 per RM450 per

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