KUALA LUMPUR, Feb 19 — 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 or 466,421 units either completed, under construction, or in the process of obtaining planning approval as of December 1 last year.
Housing and Local Government Minister Nga Kor Ming is confident that the target can be achieved by the end of this year, and the effort will continue to be accelerated under the 13th Malaysia Plan to further expand homeownership opportunities, particularly for young Malaysians.
He was responding to Hulu Terengganu MP Datuk Rosol Wahid's query on the Housing and Local Government Ministry's (KPKT) measures to deal with the issue of rising house prices and the government's plans to ensure young people can afford to own houses.
Nga said that KPKT will also expand the People's Residency Programme and the People's Friendly Homes initiative, with a RM900 million allocation, which includes the construction of 5,410 RMR units under Budget 2025.
Apart from that, the government also provides a Housing Loan Guarantee Scheme under the i-Biaya initiative, with funding of RM500,000 for purchasing a first home, which 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," Nga said, adding that based on the National Property Information Centre, house prices are now stable.
— Bernama
