PETALING JAYA: The Housing and Local Government Ministry has expressed its commitment to helping the younger generation and gig workers achieve their dream of homeownership through various initiatives under Budget 2026.
Its minister Nga Kor Ming said that under Budget 2026, the government increased allocations by RM10bil for the Housing Credit Guarantee Scheme (SJKP) to assist 80,000 homebuyers.
He said that through the SJKP, the government will act as a guarantor of up to 120% of the loan amount for those without fixed payslips, provided they are not blacklisted by any financial institutions.
"As of July 31, the scheme has benefited 93,231 applicants with total housing loan guarantees amounting to RM22.1bil.
"Of that number, 67% involved homes priced below RM300,000," he said during a recent interview with RTM.
Nga added that Budget 2026 also extended stamp duty exemptions for first-time homebuyers until Dec 31, 2027.
"Under this initiative, first-time buyers purchasing homes priced at RM500,000 and below will enjoy stamp duty exemptions, saving up to RM10,000 and reducing the financial burden on young buyers.
"Currently, Malaysia’s homeownership rate stands at 76.5%, which reflects healthy growth trends. These Budget 2026 initiatives not only help people own their dream homes but also sustain stable growth in the national property sector," he said.
The government further affirmed its commitment to providing quality affordable housing through PR1MA homes, priced around RM300,000 in urban areas, and Rumah Mesra Rakyat (RMR) units, priced about RM75,000 on private land through Syarikat Perumahan Nasional Berhad.
Additionally, Nga said the government would offer RM20,000 in subsidies for each RMR unit.
