MyHome: Government offers RM30,000 aid to buy first home

The government is offering a maximum RM30,000 subsidy to individuals earning RM3,000 and below to purchase low-cost houses under the MyHome programme set to be launched on April 1.

Prime Minister Datuk Seri Najib Tun Razak said, the National Housing Council (NHC) had also agreed to allocate RM300 million under the scheme for the purchase of 10,000 houses this year.

Under the programme, he said qualified applicants could purchase the units at the price defined as low-cost by the respective state government while the balance would be borne by the government.

Among the conditions imposed were the unit must be the applicant’s first home and it cannot be sold within 10 years of purchase.

The prime minister said developers could apply for the programme to a special committee under the Housing and Local Government Ministry.

Once approved, they can advertise the units eligible for the subsidy that will be paid directly to them by the government, he added.

“This will enable prospective buyers to benefit from this scheme and make it easier for them to get a bank loan as they are already eligible for consideration,” he said.