KUALA LUMPUR: Young Malaysians own 76.9 percent or 19,909 of the 25,903 housing units developed by Syarikat Perumahan Negara Bhd (SPNB) as of Sept 30, the Dewan Rakyat was told today.
Housing and Local Government Minister Nga Kor Ming said that 65 percent, or 44,983 out of 69,205 Rumah Mesra Rakyat (RMR) units, are owned by youth.
"Of the 41,671 affordable homes (RMM) units opened for sale by PR1MA, a total of 25,030 units, or 60.1 per cent, are owned by youth.
"The number, however, does not include joint venture projects implemented by PR1MA," he said in his winding-up speech of the 2025 Budget.
Several members of parliament, namely, Isnaraissah Munirah Majilis (Kota Belud), Datuk Seri Bung Moktar Radin (Kinabatangan), Datuk Syed Abu Hussin Hafiz Syed Abdul Fasal (Bukit Gantang) and Young Syefura Othman (Bentong), earlier asked about the ministry's efforts in addressing the issue of home and land ownership, especially for the youth. the majority of whom are first-time homebuyers.
Nga said a total of 166 People's Housing Projects (PPR) had been completed, with 104,081 units.
"Of this total, 26 PPRs, comprising three rented PPR projects, two owned PPR projects, and 21 Rent-to-Own (RTO) PPR projects, are under the supervision of the ministry.
"Based on records, 35.90 per cent of heads of households (in PPR) are between the ages of 31 and 40."
In terms of financing support for people to own homes, he said they can utilise the Housing Credit Guarantee Scheme (SJKP), where the government guarantees financing up to RM500,000 for first-time homebuyers without a fixed income and for those with low and middle incomes.
"We also have this Home Ownership Campaign 2.0 (HOC 2.0), which exempts stamp duty on transfer instruments and financing agreements for first-time homebuyers purchasing properties worth RM500,000 or less until Dec 31 this year."
He said the Madani Inclusive Housing pilot project in Johor offers housing of various sizes to ensure that the needs of households from diverse target groups are met.