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.
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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.
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When investing in property, one of the most important point to be taken is the location of the property. This will determine how much return the investor will gain from the purchase.
Before determining the exact location to the property, investors may want to know which state in Malaysia is giving the highest capital appreciation and also the average property price.
The table below are the average price and percentage price increase for residential property in all state in Malaysia. The data are from RAM Economics.
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On the 4th July 2011, Prime Minister Datuk Seri Najib Tun Razak launched Program Perumahan 1Malaysia or 1Malaysia Housing Programme (PR1MA). 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 others low-cost public housing scheme to own a home.
Middle income group 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.
The programme will be plan and coordinate projects by 1Malaysia Housing Programme Corporation, and placed under the Prime Minister’s Department. The corporation would also distribute houses under the projects to eligible recipients.
Below are the details of 1Malaysia Housing Programme (PR1MA).
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September 8, 2010
Home Loan
Bank Islam,
BFR,
CIMB Bank,
Hong Leong Bank,
Maybank,
OCBC,
Rate,
Residential Properties,
RHB Bank,
UOB
That’s true. There is a new round of price war among banks for consumer loans, with the new mortgage rate going down to as low as base lending rate (BLR) -2.3%. The current BLR rate is 6.3%.
This is a very good news to property investors because they can obtain cheaper loan to buy more properties. With the news that Malaysia properties are booming, there are more reason to buy properties especially medium to high end landed properties.
There was a lots of interest in Malaysia properties priced below RM2mil and less movement among the higher end homes. Many foreigners especially from Singapore keen to invest in Malaysia due to affordability.
The new mortgage rate is now down to as low as BLR-2.2% since end-July.
After a quick check, below are the rates offered by some of banks. I believe other banks also have the same competative rate.
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