By FOLLOWING the unprecedented events of the last couple of years, Malaysia appears to be on the right track to recovery as we move into the endemic phase.
However, despite being in this phase, it is undeniable that there are many who were laid off and some are still hardly able to make ends meet.
This fact alone makes it difficult for the low-income group to achieve their dream of owning their own house.
Having that in mind, Public Health, Housing and Local Government Minister Datuk Seri Dr Sim Kui Hian said on May 25 that the Sarawak government was well aware of the situation.
“As a responsible government, we have embarked vigorously for the provision of affordable housing to all spectra of income groups with various financial assistance schemes.
“With the schemes that are provided, it is hoped that potential young first-time house buyers will take advantage of it.
“If possible, I want every Sarawakian who dreams of purchasing their first home to do it at a young age. The earlier you purchase a home, the earlier your asset’s value will appreciate,” he said.
HOUSING DEPOSIT ASSISTANCE SCHEME (HDAS)
In hopes of giving a hand to the rakyat who aspired to become homeowners, Gabungan Parti Sarawak (GPS) government had announced the Housing Deposit Assistance Scheme (HDAS), which was the first and only initiative of its kind in the country.
In the said scheme, the state government provided an allocation of RM10 million which is expected to benefit around 1,200 homeowners.
Pointing out that the scheme was approved under the State Budget 2022, Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg on Dec 1 said it would enable more low and middle-income groups to purchase and own houses as it would help to mitigate the mortgage cost upfront.
“This is a clear testimony of the continuous effort by the Sarawak government to ensure that a significant segment of Sarawakians would be able to purchase and own their houses,” he said.
Although the scheme was managed by Mutiara Mortgage & Credit Sdn Bhd (Mutiara), it was announced by the Premier on Sept 30 that first-time Sarawak home buyers who applied for loans from commercial banks or private financial institutions are also eligible to apply for HDAS.
AIDING THE LOWER INCOME GROUPS TO OWN THEIR FIRST HOME
The scheme is aimed at helping people in the B40 and M40 groups who are eligible, especially the young, to own a home.
Those eligible for the assistance are given 10 percent of the property purchase price or RM10,000, whichever is lower, for payment of housing deposits without needing to pay it back.
Under the HDAS programme, the state government provides affordable housing projects such as Spektra Medium, Spektra Lite and Spektra Permata as well as Sri Pertiwi housing, where the prices are controlled by the Sarawak government itself.
To receive the scheme, applicant must meet certain criteria namely a first-time home buyer, belong to the B40 or M40 group, a Sarawakian with the status of Permanent Resident, purchased property only from its registered developers or wish to build a house on self-own land must have a monthly household income range of RM3,729 and below (B40) and between RM3,730 and RM8,649 (M40).
Moreover, this scheme is only applicable to affordable housing projects sanctioned by the state government subject to the maximum price of RM300,000.
As reported on Aug 20 that thus far, Mutiara had approved 1,330 units of applicants under the scheme. This amounted to RM74,214,522. And to date, it has disbursed 968 units amounting to RM47,073,046.
With the statistics, it shows that the scheme is well received by the people and now many are eager to be homeowners.
BOOSTING THE LOCAL ECONOMY
Aside from assisting the B40 and M40 groups in purchasing their first home, the Premier also stated that the scheme will also help to boost the local economy.
He said through the scheme, it will drive the state’s construction sector to look into developing more houses which in turn will attract more buyers.
“It will also affect the supply chains in the housing industry and as such, we are creating wealth for these groups of people including the homebuyers who will now have their own assets.
“If they can purchase affordable houses, they don’t have to rent. They would just have to pay the monthly installment after the deposit is paid by the government through HDAS,” he said when officiating HDAS on Feb 7.
Comments