Half of PR1MA house buyers aged between 25 and 35

Half of PR1MA house buyers aged between 25 and 35

This shows youths are interested in buying affordable housing units, says minister Reezal Merican Naina Merican.

PR1MA has introduced the Youth Home Ownership initiative to increase youth ownership from 50.3% to 70% by the end of this year. (Bernama pic)
KUALA LUMPUR:
Youths aged between 25 and 35 form 50% of buyers of housing units built under the 1Malaysia People’s Housing Programme (PR1MA) scheme as of December last year, the Dewan Rakyat was told today.

Housing and local government minister Reezal Merican Naina Merican said last year alone, they bought 1,904 out of 5,626 units.

“This shows that the selling prices fixed for these PR1MA units appeal to them.

“In addition, PR1MA has introduced the Youth Home Ownership initiative to increase youth ownership of PR1MA units from 50.3% to 70% by the end of this year.”

Reezal said this in reply to Fasiah Mohd Fakeh (PN-Sabak Bernam), who had asked about the government’s success in providing affordable housing for youths.

The PR1MA housing scheme was launched in 2011 by former prime minister Najib Razak.

In 2014, the government announced a maximum RM30,000 subsidy to those earning RM3,000 and below to purchase low-cost houses under the MyHome programme launched that year.

Under this programme, qualified applicants can purchase the housing units at the price categorised as low-cost by the respective state governments, with the balance paid by the federal government.

Among the conditions imposed were that it must be the applicant’s first home and it cannot be sold within 10 years of purchase.

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