REHDA welcomes Putrajaya’s help for B40, first-time homeowners in Budget 2025

• “The continued allocation of RM10 billion for 20,000 rakyat through SJKP will definitely benefit potential homebuyers without monthly income statement. These efforts speak volumes of the government’s intention to ensure homeownership for all rakyat, and to financially assist youths who are just starting their career to purchase homes.”

KUALA LUMPUR (Oct 18): The Real Estate and Housing Developers' Association (REHDA) welcomes the government’s efforts to provide adequate housing for the B40 group and aid aimed “specifically” for first-time homeowners.

“Most notably is the RM900 million allocation for 48 Program Residensi Rakyat projects and 14 Rumah Mesra Rakyat projects,” stated REHDA.

REHDA also highlighted measures in Budget 2025 such as:

* Tax exemptions on loan interests of up to RM7,000 for homes priced RM500,000 and below, and up to RM5,000 for houses within the RM500,001 – RM750,000 price range;

* Introduction of the Youth Housing Financing Scheme by the Public Sector Home Financing Board (LPPSA);

* The proposals introduced under the Housing Credit Guarantee Scheme (SJKP) for purchases priced up to RM500,000 built on wakaf land; and

* The introduction of the Step Up Financing Scheme of up to RM5 billion targeted for the youths, which offers a lower repayment rate for the first five years, also under SJKP.

“The continued allocation of RM10 billion for 20,000 rakyat through SJKP will definitely benefit potential homebuyers without monthly income statement. These efforts speak volumes of the government’s intention to ensure homeownership for all rakyat, and to financially assist youths who are just starting their career to purchase homes,” noted REHDA

“The step-up financing scheme, in particular, is an initiative that REHDA has been asking for in various budget engagements over the years. We call upon financial institutions to also take heed of this move and introduce their own step-up financing schemes, thus allowing more Malaysians access to this innovative programme,” it added.

REHDA also touched on Prime Minister Datuk Seri Anwar Ibrahim call to facilitate the rakyat’s access when dealing with the government, by introducing ways to perform submissions and set appointments online.

“As an industry that has frequent engagements with the state and Federal governments at various levels and with various agencies, we look forward to such online initiatives to be introduced in matters and processes pertaining to housing submissions, as any reduction in time can contribute to reducing the cost of doing business,” said REHDA.

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