KUALA LUMPUR: Some 73.8% of those from the low income households (B40) own houses, says Housing and Local Government Minister Nga Kor Ming.
Citing statistics from the Housing Income and Expenditure Survey (HIES), the minister said 22.8% meanwhile rented homes while 3.4% lived in quarters.
The findings were based on the HIES 2022 survey, carried out by the Statistics Department.
“The ministry’s priority is towards ensuring shelter for all, regardless of whether it is ownership, or rental,” he said in a parliamentary written reply on Tuesday (Aug 19).
Nga added that various programmes have been carried out to support home ownership in Malaysia.
This includes rent-to-own schemes specifically for people’s housing projects and people’s residential projects.
“Engagements are also being carried out with stakeholders, including state governments, to explore collaborations with financial institutions aimed at sourcing for alternative and suitable financing initiatives," he said.
He said that a housing credit guarantee scheme is also available, with financing guarantees of up to RM500,000 for first home purchases, regardless of whether it is a new, existing, or auctioned home.
As of May 31 this year, some RM20.9bil has been approved across 88,507 applications.
Nga said the ministry is also drafting the Residential Tenancy Act aimed at protecting the rights of tenants and landlords.
“This aims to balance both the rights and responsibilities borne by tenants and landlords, without involving control over rental rates.
“The drafting of this Act is also inline with other developed countries, where premises rentals are regulated by a specific law,” he said.
The minister was responding to a question by Datuk Seri Dr Ismail Abd Muttalib (PN-Maran) who asked about the percentage of home ownership among those from the B40 income group.
