Govt Nears 500,000 Affordable Homes Target
The government’s target of constructing 500,000 affordable housing units under the 12th Malaysia Plan (12MP) is close to completion, with 93.9% or 466,421 units either completed, under construction, or in the process of obtaining planning approval as of 31 December last year.
Housing and Local Government Minister Nga Kor Ming expressed confidence that the target would be met by the end of this year, with efforts set to continue under RMK13 to ensure homeownership remains within reach, particularly for the younger generation.
“Every time the government sets a plan like 12MP to build 500,000 affordable homes, no government has ever met the target. But this time, by the end of the year, we will achieve it, offering 500,000 RMM to our beloved rakyat,” he said in the Dewan Rakyat today.
Nga was responding to a supplementary question from Hulu Terengganu MP Datuk Rosol Wahid regarding the ministry’s initiatives to address rising house prices and ensure young Malaysians can afford to own homes.
The minister also revealed that the government will further expand the Residensi Rakyat Programme (PRR) and Rumah Mesra Rakyat (RMR) scheme, allocating RM900 million under Budget 2025. This includes the construction of 5,410 new RMR units.
Additionally, Nga highlighted the government’s efforts through the Housing Credit Guarantee Scheme (SJKP) under the i-Biaya initiative, which provides up to RM500,000 in financing for first-time homebuyers, whether for new homes, existing properties, or auctioned houses.
“As of last year, 76,664 guarantee applications worth RM17.6 billion had been approved,” he stated.
Citing data from the National Property Information Centre (NAPIC), Nga noted that house prices remain stable without sudden spikes, while property management activities have seen significant growth.
