National Housing Department Director-General Mohamad Yusoff Ghazali announced that they have received 1,046 completed applications for the First House Deposit Financing (MyDeposit) scheme since it was opened on 6 April.
But after the application deadline on 30 June, as much as 7,000 people are expected to take advantage of the programme, which will help people buy a home by providing a subsidy of up to RM30,000 or 10 percent of the property’s price.
Most of the applicants so far are from Selangor, said Yusoff. The second most numerous are from Putrajaya, followed by Johor and Penang.
“We give the public until the end of June and the incentive is given to those qualified, based on first come, first served basis,” he told reporters.
But if there is strong demand for the MyDeposit scheme, the agency would urge the federal government to raise the allocation so more people can apply.
Funded by a RM200 million allocation from Putrajaya, the scheme is open to first-time home buyers seeking to purchase a property with a maximum price of RM500,000, on the condition that the house must not be sold or rented out for 10 years.
It is open Malaysians aged 21 and above whose families have a gross monthly income of RM3,000 to RM10,000. Those interested to apply, may submit their applications at http://ehome.kpkt.gov.my/
“The deposit is paid by the government directly to the developers for new projects or lawyers for the purchase of secondary houses and need not be repaid by the buyers.”
“We expect it will take a month to process every application and the offer letter to the buyer will be given as early as the end of this month,” added Yusoff.
Mangalesri Chandrasekaran, Editor at PropertyGuru, edited this story. To contact her about this or other stories email mangales@propertyguru.com.my
