Govt targets 100,000 homeowners under Housing Credit Guarantee Scheme by year-end

KUALA LUMPUR (Jan 21): The government aims to help more than 100,000 individuals acquire their first homes this year through the Housing Credit Guarantee Scheme (SJKP).

To support the target, the total financing guarantee ceiling under SJKP was increased by RM10 billion in 2025. This brings the cumulative guarantee value since the scheme’s inception in 2008 to RM40 billion.

As at Sept 30, 2025, SJKP had approved RM23.17 billion in housing loan guarantees, enabling 97,180 individuals to purchase homes. This leaves RM16 billion in guarantee value still available for eligible applicants.

The scheme is designed for the B40 and M40 income groups, including those without fixed income or salary slips, such as gig workers, with many being young buyers.

SJKP provides financing guarantees of up to RM500,000 for first-home purchases, covering new, subsale and auctioned properties.

To ease upfront costs, SJKP MADANI offers financing guarantees of up to 120% of property value.

A step-up financing option was also introduced in 2025 to reduce financial pressure on young buyers by offering lower monthly instalments for the first three to five years.

The installments will increase gradually based on an agreed schedule.

Local Government Development Minister Nga Kor Ming said the ministry will hold engagement sessions with Bank Negara Malaysia to encourage broader participation from financial institutions.

“KPKT will continue to monitor the implementation of SJKP closely to ensure maximum impact,” Nga said.

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