RUMAWIP no more. It’s Residensi Wilayah now. What are the changes?

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp

RUMAWIP has now been enhanced and it’s now called Residensi Wilayah (I wonder if it’s now called ResiWi) Article in TheStar.com.my here.

Federal Territories (FT) Minister Khalid Abdul Samad said, “Its concept remains the same – that of an affordable home for first-time house buyers.

It is not the same as PPR or low-cost flats. What is different about Residency Wilayah (ResiWi) is that it is an upgrade in terms of size, has better quality and finishing, and lower density.

”An example he gave is that Rumawip used to have 1,200 occupants per acre but Residensi Wilayah has just 800 to 1,000 occupants per acre. Density will be lower and this was what Khalid said, “If a Rumawip project previously had about 400 apartment units, a Residensi Wilayah project would only have about 250 units.”

Despite these changes, the price is capped at RM300,000 to ensure it retains its affordable homes concept.

He said, “The Residensi Wilayah (ResiWi) homes are for the middle-income group, such as professionals, newly-weds and those looking to buy their first homes.”

In terms of number of launches, Khalid said that they will be launching 10,000 units this year and these units should be completed around 2021.

On the availability of land for ResiWi homes, Khalid shared that some are still available because the Negotiations Task Force was able to cancel or renegotiate some dubious land deals last year.

He said, “Kuala Lumpur City Hall (DBKL) was able to acquire an additional RM149mil in revenue, after 23 out of 97 land transactions were renegotiated with developers and landowners. There were 10 projects that were cancelled and developer’s deposits refunded, so the land has been returned to DBKL.” Article in TheStar.com.my here.

I think for KLites, especially the working professionals, the name change is not critical.

However, the fact that density is now lower, quality is supposedly better and size is bigger meant that they will be very happy.

As for applying for one, I searched and I think the website to apply is still the same for now. Here’s that link.

For first-time home buyers, I think this is a good opportunity to own a home we can call our own. Remember yeah, we do not want to continue paying rental after we retire.

By then, it will be tough because our income has stopped but our largest expense; rental is still continuing. Happy getting that home sweet home.

written on 24th Jan 2019

Next suggested article: Affordable homes to worsen the unsold numbers?

LIKE us for property news update, FREE.

We love to hear from you

You may enjoy these articles too.

kopiandproperty.com

kopiandproperty.com

kopiandproperty.com is everything about property related writings and news. Enjoy reading with a latte.

Leave a Replay

LIKE us for property news update, FREE.

Property investment news everyday? Subscribe for free!

An article a day, keeps updated all the way.

Join 1,219 other subscribers

Property investment news everyday?

An article a day, keeps updated all the way. Subscribe for free!