Subscribe in a reader | Subscribe by Email The first article is quite positive:
A total of RM21.3mil in loans has been approved under the My First Home Scheme since its launch in March, said Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah.
“As of April 30, RM21.3mil in loans was approved to 143 applicants with an average value of RM149,365 per loan.
“We have also received encouraging response from banks as we now have 25 that have agreed to give out such loans compared to 20 initially,” he said before witnessing the signing of a memorandum of understanding between Syarikat Peruma-han Negara Bhd and banks on the scheme.
He said as of April 30, 772 people had applied for loans under the scheme.
The scheme, launched by Prime Minister Datuk Seri Najib Tun Razak on March 8, is to enable young adults earning RM3,000 or less to obtain 100% financing for their first home with the price capped at RM220,000.
Ahmad Husni said SPNB had also constructed over 4,500 houses worth between RM100,000 and RM200,000 for the scheme and another 8,991 being built in 16 projects nationwide.
“The future is in creative economy with the private and public sectors playing an important role in corporate social responsibility,” he added.
On the affordable housing programme for young urban folk and the poor announced on May 6, Ahmad Husni said they were looking at providing these in the Klang Valley and other urban areas through a public-private partnership.
“We realise that property prices have escalated.
“We are discussing with various groups to supply such houses. A couple of companies have already agreed to do so.
“We are looking at various initiatives to help the people,” he said, adding that the matter was also being discussed in one of the Budget 2012 focus groups.
SPNB chairman Datuk Idris Haron said they were in talks with land owners in the Klang Valley, including Putrajaya, Cyberjaya, Rawang, Puchong, Damansara, Shah Alam and Klang, to build affordable homes by 2020.
source: http://thestar.com.my/news/story.asp?file=/2011/5/17/nation/8699140&sec=nation
The second is not a rosy one:
There has been poor response to 4,516 housing units under the My First Home scheme in the country.
The units were completed by Syarikat Perumahan Negara Bhd (SPNB) and were priced within the RM100,000 to RM220,000 range.
The scheme, launched by Prime Minister Datuk Seri Najib Tun Razak in March, is opened to private sector employees aged between 18-years-old and 35-years-old; drawing a monthly salary of not more than RM3,000.
Potential buyers can get 100% financing and a repayment period of up to 30 years.
According to SPNB chairman Datuk Idris Haron, the company has completed 11,400 low and medium cost houses valued at RM1.1bil which remained unsold.
“Of these, 4,516 housing units in 12 development projects can be categorised under the My First Home scheme.
“The response has not been encouraging, perhaps due to the lack of publicity.
“We need to step up our marketing efforts,” Idris said at the opening of the new SPNB headquarters in Wisma Perkeso, Jalan Tun Razak yesterday.
SPNB signed MoUs with and 19 banks, witnessed by Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah, for the scheme.
Ahmad Husni said as of April 30, 772 applications had been received for the My First Home Scheme.
“A total of 143 applications have been approved, amounting to RM21.3mil in housing loans. The average loan is RM149,365,” he said.
Idris said 8,991 housing units, which fell under the My First Home scheme, were being built in 16 development projects in Selangor, Kedah, Johor, Kelantan, Sabah and Sarawak.
“For future developments in the Klang Valley, we are also in talks with landowners in Puchong, Putrajaya, Cyberjaya, Damansara, Rawang, Klang and Shah Alam,” said Idris.
He pointed out that it was not realistic to build homes under the scheme in prime areas in the Klang Valley due to high land values.
“We work with private land owners. However, in areas that we have built homes, such as Laguna Biru apartments in Sungai Buloh, have good potential to become prime locations in five or 10 years.”
source: http://biz.thestar.com.my/news/story.asp?file=/2011/5/17/business/8695472&sec=business
And it appeared in the same paper 🙂 Personally, not sure if its the marketing, or the terms of loan, or even the location of the properties. As a housebuyer, I would like to get a nice property, possibly landed, which seems impossible with the current income levels of many Malaysians. So, if our parents could buy houses, why can’t we, who are more educated and earning “more”?
