Category Archives: Property News

Here’s Why Malaysians Can’t Afford a House

  • Regulator sets up housing website to defend finance complaints
  • Study found homes ‘seriously unaffordable’ by global standards

Malaysia’s central bank has a response to those saying it needs to do more to spur home loans: houses simply aren’t affordable.

Bank Negara Malaysia has created a website packed with data aimed at debunking the “myth” that access to financing was deterring home ownership, showing that loan approvals for key cities are near 70 percent or higher. The central bank has resisted calls to loosen mortgage lending, instead saying the property industry should boost efforts to cut costs and accelerate supply.

Rising home prices have added to the grievances of Malaysians grappling with the cost of living since a goods and services tax started two years ago, and as the government removes subsidies on daily items including petrol and sugar. That’s made affordable housing a key voter issue for Prime Minister Najib Razak ahead of a general election that must be held by mid-2018.

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2018 Budget wishlist: Developers call for relaxed rules

Posted on News Straits Times on 12 

Developers are urging the government to relax regulations so that property development in the country takes place in a healthy and efficient manner. They have come up with various proposals and hope that the 2018 Budget would have some motivators.

Various cooling measures introduced by the government and Bank Negara Malaysia (BNM) in the last three years to help curb escalating property prices has left an irreparable dent in the market.

The measures included the removal of the Developer Interest Bearing Scheme (DIBS), changes in real property gains tax (RPGT) and curbs on loan to value (LTV) ratio which has resulted in end-financing issues and loan rejections. Projects in the luxury housing or properties segment priced above RM800,000 have not been selling well.

According to the National Property Information Centre (Napic), as of the first quarter of this year, some RM10.08 billion worth of residential units (not including serviced apartments) were left unsold in Malaysia.

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Skyworld hopes for govt to shorten Rumawip sell-off period

By Bernama – 

KUALA LUMPUR: Property developer, SkyWorld Development Sdn Bhd, is hoping the government will consider shortening the sell-off period for the Federal Territories Affordable Housing (Rumawip) scheme to five years in the upcoming Budget 2018.

Founder and Group Managing Director, Datuk Ng Thien Phing said the gap should be similar to the 1Malaysia People’s Housing Programme (PR1MA), which was reduced from 10 to five years.

“Affordable housing projects are our corporate social responsibility programme and we emphasise not just on affordability, but quality as well,” he told reporters at the “Topping Off” ceremony for the SkyAwani Residences.

The event was officiated by Federal Territories Minister, Tengku Adnan Tengku Mansor here, today. Ng said SkyAwani Residences had been fully taken up and was targeted for handover in 2018.

“Currently, the SkyAwani Residences project, which has a gross development value of RM360 million, is 60 per cent complete.

“We expect it to be ready by August 2018, nine months earlier than the original construction period,” he said.

Going forward, Ng said the company would be launching its next affordable housing project, SkyAwani 4 in Setapak, following the successful take-up rate for previous such ventures, namely SkyAwani 1 (Sentul), SkyAwani 2 (Jalan Ipoh) and SkyAwani 3 (Setapak).

“We urge first time house buyers to take advantage of SkyAwani 3 because the value will increase due to location and facilities, such as the SkyBridge and SkyGarden.

“We try to do better with every Rumawip series in terms of development, as we focus on quality, not quantity,” he said, adding, SkyAwani 4 would not be the company’s final such project.

Ng said SkyWorld would keep acquiring new government and private land, while reserving its current landbank of 55.44 hectares for other development.

Rumawip: Affordable city condominium for target group

Posted on The Sun Daily on 9 October 2017

KUALA LUMPUR: One bank officer has achieved his dream of owning a home in the city here, thanks to a government initiative under the Federal Territory Housing (Rumawip) project for middle income earners.

Phang Jiun Jiann, 30, described his decision to purchase a unit at Residensi Pandanmas, which has the status of a condominium as opportune.

A Rumawip unit measures 79 sq metres (850 sq ft) or 84 sq metres (900 sq ft), consists of three bedrooms and two bathrooms, and costs between RM290,000 and RM300,000 each, with facilities such as gymnasium, two swimming pools and covered parking.

“Looking at the price of houses nowadays, which is so exorbitant, I thought it was just impossible for me to own a home particularly in Kuala Lumpur.

“But I saw an advertisement about Rumawip in a newspaper and without haste applied online, and I got it in less than two years,” he told Bernama, adding, working youths who were eligible for the housing programme should grab the opportunity.

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Families get keys to new houses under RMR1M programme

This news is from The Star Online – published on 20 Sept 2017.

The dream of owning a brand new house finally came true for three low-income families thanks to the 1Malaysia People-Friendly Homes (RMR1M) programme.

Three of them received the keys to their new homes in Kampung Cik Zainal, Chemor, from Ulu Kinta assemblyman Datuk Aminuddin Md Hanafiah at a handover ceremony, last week.

Among the three recipients who received the key was factory worker Nurul Syuhaidah Johar, 28. She said her family had been waiting for the day since they submitted their application for a home four years ago.

“Sadly, she passed away recently. It was her wish to own a good home,” she said.

Nurul Syuhaidah said she will now stay in the new home with her 21-year-old brother.

“I’m thankful that the home is finally completed and we have a new place to move in to now,” she said.

Another recipient, clerk Azrul Zaimi Mohd Ali, 33, said he will be living in his new home with his wife and six-year-old son.

“We used to stay in a rented house that cost RM350 a month.

“Although the rented house was quite okay, we still dreamed of owning a home instead and I’m glad that I can under this programme,” he said.

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Affordable home schemes in Malaysia


List of affordable home schemes in Malaysia







Skim Perumahan Rakyat 1Malaysia / 1Malaysia Peoples’ Housing


RM100,000 – RM400,000

RM2,000 – RM15,000

(individual / household)

21 and above

(single / married)

Does not own more than 1 property (including spouse)


Rumah Mesra Rakyat 1Malaysia


RM45,000 – RM65,000

RM750 – RM3,000 (household) 18 – 65

Own land, but does not own a house


Rumah Mampu Milik Wilayah Persekutuan


RM52,000 – RM300,000

Below RM15,000 (household)

RM10,000 (individual)

21 and above


Does not own property in Wilayah Persekutuan


Skim Perumahan Mampu Milik Swasta


RM50,000 – RM220,000

RM3,000 – RM6,000 (household) 18 and above

First-time home buyer


Perumahan Penjabat Awam 1Malaysia


RM150,000 – RM300,000

Below RM10,000 (household) 18 – 60

First-time home buyer

(only for Government servants)


Program Perumahan Rakyat


RM30,000 – RM35,000

Below RM2,500 (household) 18 and above

First-time home buyer

Rumah Selangorku

RM42,000 – RM250,000

Below RM10,000 (household) 18 and above

Does not own property in Selangor

Rumah Mampu Milik

RM42,000 – RM220,000

Below RM8,000 (household / individual) 18 and above

Allowed to apply for second homes (PKJ A, PKJ B, RKR . RKSR)

Hijau e-Komuniti

RM42,000 – RM400,000

Below RM10,000
21 and above

Does not own property in Malaysia


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