The Federal Government’s Housing Ministry plans to construct 4,800 studio apartments for young adults on its land at Batu district in Kuala Lumpur, reported Bernama.
Construction work for Phase 1 of the Youth Transit Studio Apartments will start in July and this will consist of two-bedroom units measuring between 450 sq ft and 650 sq ft, which tenants can rent up to five years only, said Urban Wellbeing, Housing and Local Government Minister Tan Sri Noh Omar.
He pointed out that the objective of this development is to help young adults have enough money to pay for the deposit of a house after the five-year period is over.
“Through this project, the tenants will be charged a rental fee of RM800 per month of which RM300 will be ‘saved’ by the government until the end of the rental period of five years.”
“If the tenant meets the terms of the agreement and pays the rent every month on a regular basis, we will return his ‘savings’ of RM18,000, which will allow him to rent a house or use it as deposit to buy a new home … that’s our goal,” Noh explained.
The rent for the apartments are similar to the rates of studio apartments in the vicinity but comes with a 20 percent discount courtesy of the government.
Meanwhile, he revealed that the Housing Ministry intends to increase the 10 percent ownership quota for its employees at any public housing project (PPR) starting from Monday (17 April).
Noh added that qualified civil servants earning up to RM3,000 per month can now apply for PPR Seri Aman, PPR Lembah Subang 1 PPR Lembah Subang 2.
Among affordable homes around Klang Valley are:
Image sourced from FMT
Radin Ghazali, Content Writer at PropertyGuru, edited this story. To contact her about this or other stories email radin@propertyguru.com.my
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