FT Ministry targeting young adults to buy homes in Putrajaya

KUALA LUMPUR (May 13): The Federal Territories Ministry wants more young adults to buy homes in Putrajaya “as part of measures to increase the population of the city”, The Star reported today.

Minister Tan Sri Annuar Musa (pictured) revealed recently that as part of this plan, price of affordable homes there would be “lowered from the current RM300,000 to RM200,000 and below” so as to attract “younger buyers earning less than RM4,000 a month”.

“Younger buyers will be eligible to get a longer loan term of up to 30 years and lower monthly instalments, thus increasing affordability.

“Based on the ministry’s data, 50% of those who have applied for housing loans from the banks for affordable homes were rejected because their salary threshold did not meet the minimum requirements,” The Star reported Annuar telling the media during a recent event.

He also said the FT ministry has prepared Cabinet papers for three affordable housing projects priced in the RM200,000 range to be located in Putrajaya.

“Many people want to live in Putrajaya but because the land value has increased, the house prices have increased too.

“We want to encourage others to buy houses, and not only the civil servants. So, we need to build more truly affordable houses.

“If the three housing projects go through, a few thousand houses will be available in the administrative capital,” he added.

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