Better Malaysia Foundation: Proposal on affordable homes submitted to government

Share

© Shariff Che’Lah / 123RF

✉️ Follow us on Telegram for the latest property insights and updates.

KUALA LUMPUR, April 29 — The Better Malaysia Foundation (BMF) submitted its proposal to the government earlier this month on affordable homes for low-income earners in Malaysia, namely those from the B40 group.

BMF founder Tan Sri Vincent Tan told a press conference here today that the government was studying the proposal.

(The proposal) was sent to the government. So I leave it to the government, he said, although he declined to say who or which ministry in the government the proposal was submitted to.

Tan also said he was positive about the government accepting BMF’s proposal, although he was aware that there are a lot of technical matters that need to be sorted out.

He said the proposal, among others, included recommendations for the government to guarantee loans (for the B40 to own houses), 100% financing as well as two-generation home loans of between 40- and 60 years duration so that loan repayments will be more affordable.

MORE: 7 government housing schemes available for B40 and M40 groups

If banks agree to provide loans to the B40, a lot of housing developers will build affordable homes and that will be good for the country, Tan said.

Before the press conference, media representatives were given the opportunity to tour the show unit of 900 square feet five-bedroom, four-bathroom houses designed by the BMF for the B40 group.

The BMF recently launched a new social enterprise programme to assist the government in addressing home ownership aspirations of low-income Malaysians or the B40 households.

The social enterprise would facilitate the construction of properties with a low monthly cost of ownership, carefully designed for families to grow and prosper.

— BERNAMA


Share
Sign up and stay updated
Get the latest property news, home solution tips, interior design ideas and property guides.
By subscribing, you consent to receive direct marketing from iProperty.com Malaysia Sdn Bhd (iProperty), its group of companies and partners. You also accept iProperty’s Terms of Use and Privacy Policy including its collection, use, disclosure, processing, storage and handling of your personal information.