110% loan for PR1MA house buyers

Loan offers as high as 110% will be extended to 1Malaysia Housing Project (PR1MA) house buyers by selected financial institutions, said Datuk Seri Najib Tun Razak.

The Prime Minister said the move was a continuance of the Government's effort to help the people.

"This is to enable all house buyers to own houses while the extra 10% is to pay additional costs such as legal fees and insurance.

"The rent-to-own scheme is also offered as an assistance to the middle-income group," he said in his latest entry in his blog Najib.razak.com on Saturday.

Najib said the Government aimed to build 500,000 units of PR1MA houses within five years under the PR1MA programme which covers all states except Labuan.

He revealed that the projects in the pipeline are in the southern and northern regions, Sabah and Sarawak with prices of houses ranging from RM118,000 to RM335,000.

The areas include Bukit Bintang in Kuala Lumpur (RM275,000), Tebrau (RM180,000), Kuala Ketil (RM215,000), Sandakan (RM280,000) and Kuching (RM235,000).

He urged those who met the criteria to register for the PR1MA programme. Details can be obtained at www.pr1ma.my.

Najib, when tabling the 2015 Budget themed “People Economy” in Parliament in October, had announced that the Government would address the issue of house ownership through the construction of 80,000 units of houses under PR1MA with an allocation of RM1.3bil. - Bernama