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Thursday, February 9, 2012

100% loans but few homebuyers

KOTA KINABALU: Sabahans have yet to tap into the Government’s My First Home scheme that enables young Malaysians to own a home.

The response to the scheme has been lukewarm despite potential buyers being offered 100% loans, Deputy Housing and Local Government Minister Datuk Lajim Ukin said.

He said at the Federal level, the scheme was coordinated by the Finance Ministry through an appointed agency while at state level, it was handled by the state government.

“I am sure the state government has taken proactive steps to get the scheme rolling in Sabah and also impart information about it to the younger generation through various departments and agencies in the state,” he said after attending a ground-breaking ceremony for a mosque in Kampung Melabau, Beaufort, yesterday.

Lajim said under the 2012 Budget, the Federal Government had increased the eligibility of buyers earning from RM3,000 to RM6,000 and also increased the value of houses from RM200,000 to RM400,000.

He said the new eligibility under the scheme had been effective since Jan 1.

He said the scheme was to help the younger generation entering the job market to buy an affordable house.

By The Star

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