KPKT ACHIEVES 93.9 PER CENT TARGET OF BUILDING 500,000 AFFORDABLE HOMES

KUALA LUMPUR, Feb 19 (Bernama) --  The MADANI government's goal of building 500,000 units of affordable homes under the 12th Malaysia Plan (12MP) is almost achieved with 93.9 per cent 466,421 units either completed, under construction, or in the process of obtaining planning approval as of Dec 1 last year.

Housing and Local Government Minister Nga Kor Ming expressed confidence that the target can be achieved by the end of this year and that the effort will continue to be accelerated under the 13th Malaysia Plan to further expand homeownership opportunities, particularly for young Malaysians.

He said this in response to a supplementary question from Datuk Rosol Wahid (PN-Hulu Terengganu) regarding the Ministry of Housing and Local Government's measures to deal with the issue of rising house prices and the government's plans to ensure young people can afford to own houses.

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The ministry, he said, will also expand the People's Residency Programme (PRR)  and the People's Friendly Homes (RMR) initiative, with an allocation of RM900 million, which includes the construction of 5,410 RMR units under the 2025 Budget.

Apart from that. he said the government also provides a Housing Loan Guarantee Scheme (SJKP) under the i-Biaya initiative, with funding of RM 500,000 for the purchase of a first home will benefit young Malaysians from the low and medium-income group.

"As of last year, a total of 76,664 applications amounting to RM17.6 billion have been approved," he said. 

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According to Nga, based on the National Property Information Center (NAPIC), house prices are now stable.

 -- BERNAMA