RM100k for a semi-detached / bungalow in Bandar Dato Onn? WOW.

I think this news was the highlight for Johoreans who needs a home and has yet to own a home. I think they should also be from lower-income bracket. In KL property market today, any apartment launching with condo facilities and below RM350,000 is going to receive lots of attention. Well how about landed properties for much lower price? Fancy owning a semi-detached home for RM100,000? Or lower? Well, this was announced by Sultan Ibrahim Ibni Almarhum Sultan Iskandar on Monday (20th March 2017) and the soft launch of Phase One was at the Galleria@Kotaraya Mall today. Here are a few articles about it. TheStar – Johoreans excited over Sultan’s affordable housing project. ChannelNewsAsia – Johor Sultan to build affordable bungalows for lower-income families.  YahooNews – Sultan Johor’s dream homes: Submit your application online at 5pm  and TheSundaily – Own a bungalow for just RM100,000  Well, when the news is reported by so many real media companies, it is definitely real and worth sharing.

According to the report in TheStar, many Johoreans who were working in other states were also back in order to stand a chance to buy such an unbelievable offer. Many expressed gratitude to Sultan Ibrahim for helping Johoreans get affordable housing. According to Sultan Ibrahim, a total of 1,840 homes would be built over several phases at Bandar Dato Onn, Bandar Baru Majidee and Jalan Yahya Awal. All these locations are within 20 minutes drive from the city centre. The first phase would be in Bandar Dato Onn and it wouldcomprise 600 bungalows and semi-detached units with a built up area of 1,100sq ft each. This is a freehold project and it will be built under the Sultan Ibrahim Foundation. It does not stop with just the offer. Bank Rakyat would also be providing loans with flexible repayment schemes. Details to be announced in future. According to Sultan Ibrahim, “Successful applicants would only need to pay a deposit of RM1 for a full loan with an easy repayment scheme.” There are just 600 units for this first phase. Thus, the selection process for the houses would be stringent and priority given to the most deserving buyers. 

What a good news for Johoreans who qualify. Would there be more awesome offers in other states? Well, it would depend on the fund which would be funding it. I do not think private developers are able to build such a unit without a huge subsidy. They need profits too. Of course, the land can be nearly free if it’s from the state but the cost of construction including other manpower costs would easily exceed the RM100,000 price being offered. For his condo, around 10 years ago, my brother-in-law already spent over RM65,000. When I moved into my current condo, I ‘overhauled’ two out of three bathrooms and just these two cost me RM30,000.  All the best and hopefully everyone who needs a home gets a home. To me, this is a basic need which would at least secure the person and his family a roof over their head. Online applications for the homes on www.yayasansultanibrahim.org.my Happy applying.

written on 22 March 2017

Next suggested article:   Who says don’t buy Johor properties? You should buy 

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