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KPKT: M40’s property ownership plan coming soon. (May 2019…)

KPKT: M40’s property ownership plan coming soon. (May 2019…)

B40 households are households earning a median income of RM3,000 per month. Earlier article about B40, M40 and T20 here. I believe everyone should eventually own a home they could call their own because it’s going to be very stressful to retire and have no fixed income and yet still have to pay a fixed rental every month. We have seen many assistance for the B40 households in Malaysia towards owning a roof over their heads. A Deputy Minister even asked for banks to give more leeways to B40 households After all these assistance, hopefully the B40 households will get to own a home of their own. What about the M40 households then? These are households earning a median income of RM6,275 per month.

Article in edgeprop.my here. Our Housing and Local Government Minister Zuraida Kamaruddin said that the ministry is looking for ways to help the group through affordable homes. She added that the ministry collaborated with several relevant agencies during the drafting process. (Would be great if we could also know which are the relevant agencies too.) Moreover, she said the M40 group is divided into two; the top and bottom. The top category is made up families with an average household income between RM5,000 and RM10,000 while the bottom part is for those between RM3,000 and RM5,000. This plan which is being hatched right now for the M40 households is expected to be completed in May. Article in edgeprop.my here.

I do hope that the ministry has also spoken to selected group of M40 households to also understand their needs, the type of housing they prefer and is the problem due to them unable to come up with downpayment or is it because of loan rejections etc. Many times, many buyers try to buy a property which is very near to their approval limit. This is one major reason why their loans are rejected too. M40 households’s income would also suggest that they have more disposable income than the B40 and this is a double-edged sword actually. They could have SPENT those extra or they could have INVESTED them. I am looking forward to this goodie(s) announcement for the M40 in May 2019 too. happy following.

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Article written and edited by Charles. News article summarised by Dina Batrisyia.

written on 12 March 2019

Next suggested article: M40 and B40’s EPF contribution solution

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