SHAH ALAM, Aug 12 – The urban wellbeing, housing and local government ministry (KPKT) is planning to introduce homes under the People’s Housing Project (PPR) to cater to the needs of the middle income group (M40). Minister, Tan Sri Noh Omar said at the moment, the PPR had only been targeted for the lower-income group (B40) and that the government wished to extend the project to the M40 in its bid to help the latter bracket own affordable and comfortable homes.
“The working paper for this suggestion (PPR for M40) has been prepared and will be brought to the government, the soonest possible,” he told a press conference after officiating the Affordable Homes Carnival (KPMM)-Malaysia Property Exposition (Mapex) 2017 here today. According to Noh, the government at the moment, had subsidised over RM100,000 for each PPR home for the B40 group which saw the owners pay only RM35,000.
“As for the M40 group, the government may not give the same subsidy as the B40’s PPR. The government might consider giving discounts between 10% and 20% for properties with the market value of RM700,000. This is what we’re planning,” he said. Meanwhile, Noh also urged Bank Negara Malaysia not to impose strict terms and conditions (T&C) to first-time buyers and that the T&C should be different from borrowers who owned more than one property.
About 30 housing developers and 13 government agencies participated in the three-day KPMM-Mapex 2017 which started today, at the Shah Alam Convention Centre here. The event serves as a one-stop centre for the public who have been scouting for their first home below RM500,000, which are available in the market, be they in the Klang Valley, Melaka, Kedah, Perak or Penang. — AFP