THE RM1.5 billion allocation and RM2 billion guarantee under the housing credit guarantee scheme in Budget 2022, which steps up the housing agenda for the low-income group, will encourage young people to own houses and boost the property market.

Housing and Local Government Minister Reezal Merican Naina Merican said the Budget outlines a housing-related landscape close to the heart of the people.

The RM1.5 billion allocation will involve People’s Housing Projects (PPRs), as well as Syarikat Perumahan Negara Bhd and Perbadanan PR1MA Malaysia projects, he added.

“The RM2 billion allocation provided via the housing credit guarantee scheme will provide financing access to those who do not have proof of fixed income such as farmers, gig workers and small-time entrepreneurs when buying houses.

“This will encourage young people to own houses, especially first-time buyers.”

He said his ministry’s intention to expand Malaysia Berdaya Huni’s aspirations to PPR residents has also been given consideration in the Budget, with a RM30 million allocation to provide internet facilities at 40 existing PPRs. – Bernama, October 30, 2021.