Affordable housing for youth to be launched in July

The government will launch houses priced at RM220,000 and below under its affordable quality housing programme to provide an opportunity for those in the younger demographic to own houses, said Prime Minister Datuk Seri Najib Tun Razak.

He said the programme, operating under the My First Home Scheme, is set to launch in July and will operate under the public-private partnership initiative.

“The government will provide the site and the developer will implement the project based on the industrial building system,” he said.

“I've also said that, if possible, the private sector (can) turn this into a corporate social responsibility project and not (use it) for profit.”

The initiative was driven by comments posted on his Facebook page and in news articles, which showed that the younger generation is facing difficulties in owning homes within that price range, particularly in Klang Valley.

The My First Home Scheme, launched by the Prime Minister on 8 March, aims to benefit those aged 35 and below, who are earning less than RM3,000 a month. They are entitled to purchase a house for RM220,000 or less, through 100 percent financing from participating lending institutions.