Two key policy changes have been announced by Prime Minister Datuk Seri Najib Razak that will enable greater participation of the 1Malaysia People’s Housing (PR1MA) programme.
The two changes to the PR1MA policy were raising the eligibility level for households from an income level of RM10,000 to RM15,000, and shortening the moratorium on house sale and rental from 10 years to five years.
The prime minister said the increase in income level to RM15,000 is to enable more people to be eligible to own a PR1MA house, apart from shortening the moratorium period.
“These are all measures taken by the government which is very committed to enabling people, especially the target group, to own a PR1MA house,” he said PR1MA@Kedah Community celebration earlier this week.
Najib pointed out that the price of PR1MA houses remains unchanged, at 20 per cent less than the current market price.
He added that it was important that with these government measures allow people would be able to own property through wealth distribution, by purchasing a house they desired.
“I stress that people will be able to own bigger assets and that the government is very committed to enabling people to own a house of their desire,” he said.
Najib said he was pleased with the measure taken by PR1MA to ease the application process for a house through the one-stop approach.
“Here, the applicants can choose a house lot, apply for a loan and get legal advice under one roof, and this measure saves a lot of time and energy,” he said.
The prime minister said the government’s measure to ease the housing loan application process announced through the 2017 Budget would also facilitate easier home ownership.
The government targets 500,000 PR1MA units to be built by PR1MA Corporation Malaysia — Bernama