Reinstate MyHome scheme a er
The government has been urged to reinstate the Private Affordable Ownership Housing Scheme 2.0 (MyHome) which provides up to RM30,000 incentive to first home buyers when the country has recovered from the pandemic.
KOTA KINABALU: The government has been urged to reinstate the Private Affordable Ownership Housing Scheme 2.0 (MyHome) which provides up to RM30,000 incentive to first home buyers when the country’s financial position has improved.
WSG Group Managing Director Datuk Susan Wong Siew Guen said the incentive has been slashed after the Budget 2021 was tabled last November as more resources had to be directed towards combating the Covid-19 pandemic.
She said her company has assisted around 60 buyers of Parklane Villa, Benoni Gardens and Palm Condominium in applying for the MyHome incentive.
However, she said only six buyers obtained the incentive while for others, their approval has been cancelled after the budget was tabled.
“It is rather a disappointment to the first home buyers.”
Wong said around 10 percent of her buyers have cancelled their booking as they could not afford the down payment without the RM30,000 subsidy.
She said others had banked on having the extra money for renovation, but they have gone ahead with the purchase anyway without the incentive.
Hence, she appealed to the government to reinstate the RM30,000 incentive for first home buyers when the country’s financial position has improved, in order to encourage more home ownership among young people.
Under the terms and conditions, the MyHome incentive is subject to 10 percent of the house price or a maximum of RM30,000, whichever is lower, for the purchase of residential property not exceeding RM500,000.
The approval could also be terminated anytime for the purpose of implementing public or government policies.