Owning a first home for young couples, middle-income earners, and first-time homebuyers can be a complex process.
However, the Malaysian government has developed several initiatives and financial schemes to make the process of homeownership easier and more accessible.
If you’re looking for a first home scheme, you’ve come to the right place. Here are five options to consider when deciding to buy your first home.
| 5 First-Home Schemes in Malaysia |
1. BSN Youth Housing Scheme
The BSN Youth Housing scheme provides up to 100% financing for property purchases, with a repayment period extending up to 35 years.
Eligible applicants are Malaysian citizens aged between 21 to 45 years, with a combined monthly income not exceeding RM10,000.
Click here to learn more: BSN MyHome official website
2. PR1MA
The PR1MA initiative is designed to support middle-income earners in Malaysia. It offers a range of affordable housing options priced between RM100,000 to RM400,000.
Applicants must be Malaysian citizens aged 21 and above to qualify. Applicants must be earning a monthly household income ranging from RM2,500 to RM15,000.
Click here to learn more: PR1MA official website
3. RUMAWIP
Spearheaded by the Federal Territories Ministry, RUMAWIP aims to provide affordable housing solutions to the middle-income group residing in Kuala Lumpur.
The scheme features various housing types within the price bracket of RM150,000 to RM300,000. It isĀ open to Malaysian citizens aged 21 and above, born, living or working in Kuala Lumpur.
Click here to learn more: Residensi WIP official website
4. Rumah Selangorku
This initiative by the Selangor State Government is dedicated to offering affordable homes to the residents of Selangor. These home prices range from RM42,000 to RM250,000.
Eligibility extends to Malaysian citizens aged 18 and above earning a monthly household income between RM3,000 and RM10,000.
Click here to learn more: Rumah Selangorku official website
5. Bank Negara My First Home Scheme
This scheme provides up to 110% financing for property purchases, specifically designed to assist first-time homebuyers. It has a maximum tenure of 35 years.
Malaysian citizens aged 25 and above, earning a monthly household income less than RM2,300 are eligible to apply.
Click here to learn more: Bank Negara Malaysia official statement
With these comprehensive housing schemes and initiatives, it’s now easier to own a home in Malaysia.
Whether you are a young married couple, a middle-income earner, or a first-time homebuyer, there are many options tailored to assist you in achieving your homeownership dreams.
If you need advice to purchase your first home, our team of real estate professionals are ready to help! Drop your details below and our team will assist you.
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