Prime Minister Datuk Seri Najib Razak officially launched MyDeposit, or First Home Deposit Funding Scheme, during the National Housing Council Meeting yesterday (6th April). This initiative is aimed to assist middle-income group that has a household income of RM10,000 and below.
First-time house buyers can apply for the scheme online at the Urban Well Being, Housing, and Local Government Ministry website starting today (7th April).
Under MyDeposit, the government will contribute 10% from the sale price, or maximum RM30,000 (whichever is lower), to first-time buyers looking for homes priced below RM500,000. Besides that, the scheme also provides incentives to encourage them to build more affordable houses.
“This is to assist the M40 group, or those with household income of between RM3,000 and RM9,000,” said Najib in an announcement in the Parliament yesterday.
The Prime Minister mentioned that properties priced up to RM300,000 will be reserved for first-time house buyers will take effect this month. The Affordable Homes Carnival will be held in Serdang this July, where more than 50,000 new units would be on sale.
At the end of the council meeting, Najib proceeded to witness the signing of an agreement between Tenaga Nasional Bhd (TNB) and Perbadanan PR1MA Malaysia (PR1MA) to develop a plot of land for 786 houses in Kajang.
For more information, visit the Urban Well Being, Housing, and Local Government’s website.