Affordable homes? Ceiling property price may be coming soon and more.
It’s very important for everyone to realise that renting is not a great way to have a roof over one’s head. Staying under the bridge is also not. Some argue that mortgage is more expensive than paying rental every month but mortgage has an end.
Perhaps it’s 35, 30 or even 35 years but there is an end. Once it reaches the end, the property is now an asset which could be turned into cash if needed. Meanwhile rental is lower versus monthly mortgage but this is forever and it will continue for generations. So, measures to assist first-time home buyers is always welcomed.
Article in theedgeprop.my Property price for affordable homes especially in urban areas will soon have a ceiling price. This is to control the price of these affordable homes so that it remains accessible to the selected target groups. This was reported by MalaysiaKini.
Under the 12MP, it was stated that “A comprehensive database of affordable homeowners will be established to monitor homeownership while the existing housing financing schemes will be improved to assist the B40 and M40 households to own houses.”
Beyond just the price control, the government will continue to prioritise providing better access to affordable housing to the rakyat by increasing access to house financing as well while existing housing financing schemes will be improved to assist the B40 and M40 households to own houses.
Rent-to-own programme will be expanded to cover houses priced up to RM500,000. For first house purchases, the Fund for Affordable Homes and Youth Housing Scheme will continue to be provided for financing. The full article is here: Article in theedgeprop.my