The Skim Perumahan Mampu Milik Swasta (MyHome) is a government initiative to help those in lower-income groups to purchase their first homes and encourage developers to build more affordable housings.
Most Malaysian millennials (also known as Generation Y) can only dream about purchasing a property any time before they reach 50 years old. Stagnating entry-level wages coupled with skyrocketing property prices have made this dream nigh on impossible.
According to the National Property Information Centre (NAPIC), the 2018 Malaysian House Price Index showed that a home in Malaysia cost an average of just over RM 400, 000 (RM 416,993). If you’re an urban millennial newly introduced to the workforce as most first-time homebuyers are, such figures might seem astronomical when compared to your monthly salary of roughly RM 2, 500.
Many Malaysians may have heard of popular affordable housing schemes such as Residensi Wilayah (RUMAWIP) and 1Malaysia Housing Programme (PR1MA,) but most remain unaware of the MyHome scheme.
We understand that there are many confusions about this scheme as many information is already outdated. We have compiled the latest and all the necessary information including eligibility requirements, documents needed and types of homes being offered. You may also check the Sistem Pengurusan Perumahan Negara website for more information and available projects.
Let’s see what buyers can leverage from this scheme.
1. What is the MyHome scheme?
MyHome or the Skim Perumahan Mampu Milik Swasta was introduced in 2014 by the government (under the Ministry of Housing and Local Government (KPKT). When it was first launched, the federal government allocated RM 300 million for the MyHome scheme. The initial target was to build 10,000 low-cost homes across the country.
Buyers will be given up to RM 30,000 rebate per unit when purchasing homes under this scheme. Buyers will be required to pay a 10% down payment to the bank when purchasing a house but under the MyHome scheme, essentially the government pays that down payment for you as long as it is equal to RM 30,000 or below.
For example, if you purchase a house worth RM 200,000 under the MyHome scheme you will be entitled to a 10% rebate worth RM 20,000 that will be considered as the down payment to the bank. Now before you get all excited, here are a few things that you should know about this scheme and whether you’re eligible for it.
2. Who is eligible for the MyHome scheme?
The MyHome 2019 scheme is open to those who fulfil the following conditions.
- A Malaysian citizen of at least 21 years old
- A first-time homebuyer
- It must be a first-time home purchase for a household. A household refers to a married couple or a single individual.
- Only one offer will be given to each household.
- The household income must not exceed RM 10,000.
3. What are the documents needed?
These are the documents that you will need to apply for the MyHome 2019 scheme. It is of the utmost importance that you have prepared all the relevant documents before applying for the scheme. An incomplete application might take longer to process, or even worse, will be rejected.
- Copy of applicant’s and spouse’s identification cards.
- Copy of marriage certificate (if applicable).
- Copy of disabled card (OKU)/ disabled confirmation letter (if applicable).
- Copy of self-employment declaration letter.
- Copy of employer confirmation letter.
- Copy of latest salary statement.
- Copy of Employees’ Provident Fund (EPF) statement OR income tax statement.
- Copy of pension letter (if applicable).
- Copy of identity card / MyKad / birth certificate.
- Copy of the Central Credit Reference Information System (CCRIS) of applicant and spouse.
4. How to apply for the MyHome scheme?
MyHome application must be done online at Sistem Pengurusan Perumahan Negara ( SPRN) website. You must register, create your user profile and proceed with the MyHome application. You can also check your application status and if you succeeded, you may download the offer letter and submit the related documents to the National Housing Department (JPN).
5. What is the MyHome application review process like?
Each application will be reviewed by the MyHome Scheme Buyer Committee. This committee is chaired by the Deputy Director General (Development) of the National Registration Department (JPN). Its members include the Deputy Minister of Finance, state government representative / related housing authorities / KPKT Policy Division representative and relevant housing developers.
6. What are the available MyHome projects?
Now, you might think that even though the properties under MyHome are affordable, there must be a catch somewhere right? Maybe they’re located in unstrategic areas are less than desirable neighbourhoods.
On the contrary, quite a few MyHome projects are located in great areas with easy access to malls, schools, and other amenities. Those living in Kuala Lumpur or Selangor would want to jump at the chance to secure a unit under the Impiana Sky Residensi in Bukit Jalil or Myra Putra in Sepang.
Here are the MyHome projects that have received the Certificate Completion and Compliance (CCC) (as of 2017):
|Project||District||Number of units||Property type|
|Sabah||Taman Khazanah Indah||Lahad Datu||824||Single storey terrace|
|Johor||Bandar Tiram Plentong||Johor Bahru||250||5 – storey flat|
|Perak||Bandar Universiti Seri Iskandar||Perak Tengah||186||Single storey terrace|
|Pahang||Taman Gau Indah||Temerloh||135||Single storey terrace|
|Pahang||Taman Jengka Indah||Maran||58||Single storey terrace|
|Kedah||Taman Saujana Impian||Sungai Petani||1||
Single storey Semi – D
Source: National Housing Department
7. What are MyHome restrictions?
Buyers will have to adhere to a moratorium period of 10 years. This means that they can’t sell the property until after the 10 years has passed. The terms of the moratorium are included in the offer letter to the buyer in the Sale and Purchase Agreement and the land title document (subject to restrictions of interest). The moratorium period is effective from the point (date) that the Sale and Purchase Agreement is signed.
8. Can I transfer my property’s ownership?
The purchased house can be cannot be transferred or sold to a new owner, unless the immediate family members or heirs like spouses or children.
9. Can I rent out my MyHome unit?
The MyHome unit cannot be rented out within the moratorium period of 10 years.
10. How many Malaysians have secured homes under MyHome?
As of January 2018, a total of 7,066 MyHome applicants across Malaysia have successfully secured homes under the scheme Johor recorded the highest number of units purchased at 2,228 units followed by Sabah at 1,525 units. 508 units have been purchased in Kuala Lumpur and 901 units in Selangor.
The complete breakdown of units purchased by the state can be viewed here.
If you are looking to purchase a residential property this year and fit the above requirements, then waste no time in applying for a unit under the MyHome scheme. Not just that, you can also explore other programmes like the Home Ownership Campaign 2019 for more deals and purchase exemptions. We wish you the best of luck!
Edited by Rebecca Hani Romeli