Program Perumahan 1Malaysia or 1Malaysia Housing Programme (PR1MA) was launched on the 4th July 2011 by Prime Minister Datuk Seri Najib Tun Razak.
The programme aim to assist the middle-income group who can neither afford to buy high-end property nor are eligible for existing My First Home Scheme and other low-cost public housing scheme to own a home.
Middle income groups are those with household income in between RM2,500 to RM7,500 per month regardless whether they work with the government, the private sector or self-employed.
After more than a year, finally Malaysian public can apply for the programme although there was a single opening for a project in Putrajaya at the end of 2011. For those who are eligible and interested to apply, you may register now.
Below are the steps required to register for PR1MA.
Prime Minister Datuk Seri Najib Razak, who is also Finance Minister, unveiled 2013 budgets in the Parliaments on Friday 28th September 2012. The Budget’s theme is “Prospering the Nation, Enhancing the Well-being of the Rakyat: A Promise Fulfilled.
The Budget was designed to improve the rakyat’s quality of life, ensure sustainable economic growth, spend prudently and reduce the fiscal deficit
The Government’s budget deficit estimated to improve to 4.0% next year compared with 4.5% in 2012. On top of that, the economic growth was projected to be between 4.5% and 5.5% for 2013, with this year’s growth expected at 4.5% to 5.0%.
The following are Budget 2013 highlights for Personal Finance and Investment.
The calculation for monthly home loan repayment is different than the hire purchase or personal loans. It is based on principle loan balance (reducing balance) instead of total loan, which normally used in hire purchase or personal loan.
The advantage of principal loan balance over total loan is the total interest (profit) paid to the bank getting lesser as times go by.
For those who like to calculate the monthly home loan repayment on your own, you may use the following formula,
Alternatively, you may want to use an online home loan calculator.
Formula for Monthly Repayment
Prime Minister Datuk Seri Najib Razak, who is also Finance Minister, unveiled 2012 budgets at the Dewan Rakyat on Friday 7th October 2011.
The RM232.8 Billion budgets are allocated to implement all government development plans, focusing on the well-being of the rakyat. RM181.6 Billion is for operating expenditure and the remaining RM51.2 Billion is for development expenditure.
The Government’s budget deficit estimated to improve to 4.7% next year compared with the current 5.4%. On top of that, the economic growth was projected to be between 5% and 6% for 2012, with this year’s growth expected at 5% to 5.5%.
The following are Budget 2011 highlights for Personal Finance and Investment.
Program Perumahan 1Malaysia or 1Malaysia Housing Programme (PR1MA), was launched on 4th July 2011. The programme aim to assist the middle income group buying a property.
In the first phase of the programme, more than 43,000 houses will be build on 20 strategic sites in Klang Valley, Rawang and Seremban. The development will taking more than 2,000 acre in land area. The project will start in between quarter 3 (Q3) 2011 and 2018.
The table below is the details on location, developer, land size, number of houses and development target of PR1MA phase 1.