PETALING JAYA: For many young Malaysians, especially gig workers, owning a home can feel like a distant dream.
But for thousands, that dream has come true, thanks to the Housing Credit Guarantee Scheme (SJKP).
Since its launch in 2008, the scheme has helped 93,231 Malaysians secure their own homes, with total housing loan guarantees amounting to RM22.1bil as of July 31, said Housing and Local Government Minister Nga Kor Ming (pic).
He said most of the homes – about 67% – were priced below RM300,000, making them affordable to young families and first-time buyers.
“Through SJKP, the government acts as a guarantor for up to 120% of the loan amount to help young people and gig workers without fixed payslips purchase homes, provided they are not blacklisted by any financial institutions,” Nga said in an interview with RTM.
Under Budget 2026, the government has increased the allocation for SJKP by RM10bil to assist another 80,000 prospective homebuyers.
The government has also extended the stamp duty exemption for first-time homebuyers until Dec 31, 2027.
“We encourage young people to buy homes, and through these policies and support initiatives, the government aims to help them realise their dream of homeownership.
“First-time buyers purchasing homes priced at RM500,000 and below will continue to enjoy stamp duty exemptions, saving up to RM10,000 and easing their financial burden,” he said.
Nga said Malaysia’s current homeownership rate stands at 76.5%, reflecting a healthy growth trend.
“These Budget 2026 initiatives not only help more Malaysians own their dream homes but also sustain stable growth in the national property sector,” he added.
He said the government also remains committed to delivering quality, affordable housing through PR1MA homes priced around RM300,000 in urban areas and Rumah Mesra Rakyat units priced about RM75,000 on private land through Syarikat Perumahan Nasional Berhad, each with a RM20,000 government subsidy.
