The Malaysian 2023 Budget allocated RM95 billion in development expenditure, a record high and a significant increase compared with RM75.6 billion for 2022 and RM64 billion for 2021.
This development allocation includes the funding for public housing schemes to help first-time homebuyers own a home. This includes:
An allocation of RM367 million for projects under the People's Housing Programme, or better known as Program Perumahan Rakyat (PPR), for the benefit of 12,400 new residents;
An allocation of RM358 million for Program Rumah Mesra Rakyat for the construction of 4,250 housing units;
Ensuring safe living conditions of low- and medium-cost strata homes through maintenance, including replacing dilapidated elevators with an allocation of RM90.4 million [budget speech says RM290 million] for the public Housing Maintenance Programme and Malaysian Housing Maintenance Fund;
Syarikat Jaminan Kredit Perumahan (SJKP) provides government guarantees on housing loans, mainly to help borrowers without a fixed income, such as e-hailing workers, secure bank loans. In 2023, the government guarantee facility through SJKP will be increased by RM3 billion; this will assist an estimated 12,000 borrowers.
"Currently, home prices are too expensive. This scheme will open opportunities for young people to own a home," said Diana, 24, a graduate.
"In my opinion, the housing maintenance initiative will help residents living in low-cost housing live more comfortably," said Ras Nurhumiera, 23, a student.
The government is committed to providing affordable housing for the younger generation in addition to focusing on the construction of affordable housing in small towns and suburbs to increase the opportunity for the middle-income (M40) households to buy a home.
During the ground breaking ceremony for the Kepala Batas PPR project on Wednesday, caretaker Prime Minister Datuk Seri Ismail Sabri Yaakob said: "I guarantee that all these housing schemes will be implemented if the government I lead is re-elected in GE-15 come 19 November so that all Malaysian families can own their own homes, in line with the aspirations of 'One Family One Home'.”
The Kepala Batas PPR project aims at enabling homeownership among qualified low-income people who do not yet own a home.
This project is worth RM113 million, involving the construction of 700 units of four-storey flats as well as basic facilities, to be implemented on a 20-acre land owned by the Penang Regional Development Authority (PERDA).
The Kepala Batas PPR project will also provide seven housing units to persons with disabilities (PWD). The housing units will be built at a cost of RM161,000 per unit but will be sold at RM45,000 per unit.
Ground breaking ceremony for the construction of Putra Bertam Mosque
"This mosque will be developed on two hectares of land owned by the Islamic Religious Council of Penang (MAINPP) in Pongsu Seribu, North Seberang Perai,” said Ismail Sabri.
The construction of the Kepala Batas Youth Centre (KBYC) is worth RM45 million
The KBYC will be equipped with various international-standard sports facilities and will function as a one-stop centre for youth activities in Penang and a sports hub for the northern region of Peninsular Malaysia.
