PUTRAJAYA (April 18): The ministry of urban wellbeing, housing and local government will build 4,800 units of studio apartment for youths, on its land in Batu district, Kuala Lumpur.
Urban Wellbeing, Housing and Local Government Minister Tan Sri Noh Omar (pic) said the first phase of the Youth Transit Studio Apartment project, to begin in July, would involve the construction of two-bedroom units with sizes ranging from 450 sq ft to 650 sq ft with a maximum rental period of five years for each tenant.
Speaking to reporters after attending the ministry’s monthly assembly here yesterday, Noh said the project was part of the government’s efforts to help youths save money to buy a house after the five-year rental period ends.
“Through this project, the tenants will be charged a rental fee of RM800 per month of which RM300 will be ‘saved’ by the government until the end of the rental period of five years.
“If the tenant meets the terms of the agreement and pays the rent every month on a regular basis, we will return his ‘savings’ of RM18,000, which will allow him to rent a house or use it as deposit to buy a new home ... that’s our goal, “ he said.
Noh said that the rental rate was decided after taking into account the rental studio apartment rates in the neighbourhood before a 20% discount by the government.
Meanwhile, Noh said the ministry had also decided to extend the 10% ownership quota of any public housing project (PPR) for ministry’s staff, effective yesterday.
Employees who met the eligibility criteria of earning RM3,000 and below could apply for the PPR Seri Aman, Jinjang, Kepong Utara, PPR Lembah Subang 1 and PPR Lembah Subang 2, from yesterday onwards, he said.
This article first appeared in The Edge Financial Daily, on April 18, 2017.