MyBenefits Relief on Housing - Supply of Affordable Homes

Low to Medium cost homesPerumahan Rakyat 1Malaysia (PR1MA)  

Largest nationwide supply of affordable homes, average RM250,000  
Last updated: November 16, 2017  
All information has not been verified by the relevant Ministry/Agency

What is this programme about?  

Perumahan Rakyat 1Malaysia (PR1MA) was formed under the PR1MA Act 2012 to plan and build affordable housing units for middle-income Malaysians. These affordable homes are located in selected prime urban locations and cost between RM100,000 - RM400,000 with an average price point of RM250,000. This scheme was launched in 2011, aimed to provide affordable homes in urban areas to middle-income households earning between RM2,500 to RM10,000 per month.ranges in size from 1,250 to 1,600 sqft for landed properties, and 850 to 1,200 sq ft for high-rise units and depending on areas can be either leasehold or freehold. Prices of PR1MA homes are capped at RM400,000 and are offered at approximately 20% discount to market value.

In addition to providing the supply of affordable price homes, PR1MA through a panel of banks offers affordable end-financing to buyers.

Who can apply? 

General Eligibility Criteria

(Contact ministry/agency for all other requirements, if any)

  1. Malaysian citizen.

  2. Resident in Malaysia

  3. Aged 21 and above, single or married

  4. Owns no more than one property among both the individual and spouse

  5. Income group - Individual or combined household income between RM2,500 and RM15,000

  6. Self-employed applicants must have income statements

  7. Bankrupt applicants must have a guarantor

For the self-employed applicant with no income documentation or guarantor for bankrupt but are keen to own a PR1MA Home, can still apply. The consideration for approval will be subjected to PR1MA’s discretion.Housing Loan eligibility is based on the requirements of the respective participating banks

What are myBenefits? 

Assistance: Supply of affordable homes average RM250,000 per unit packaged with financing from  participation banks
Income Group: RM2,500 to RM15,000
Target Group: All middle-income Malaysians

Contacts

Ministry/ Agency: Perbadanan PR1MA Malaysia

Website: https://www.pr1ma.my

Email: info@pr1ma.my
Mailing address  :

R-15, Central Piazza, No. 2, Jalan PJU 1A/7A  Oasis Square, 

Ara Damansara, 47301 Petaling Jaya, Selangor Darul Ehsan

Telephone: +603-7962 4374

Fax:

Online registration: https://www.pr1ma.my/register.php?lang=en

FAQ link:

 

Conditions

Property Price: RM100,000 to RM400,000                                      
Subsidy: Approximately 20% discount to market price 

Loan Amount: Easy financing provided by a panel of participating banks

Restriction: Moratorium on sale – 5 years
Application process: Register online > Application > Balloting > Allocation > S&P > Financing 

How to apply? 
Application process

.Contact ministry/agency to find out the procedures and processes)

 

What documents do I need for application?

The general requirement of documents needed for the application

(Contact ministry/agency for all other requirements, if any)

  1. Copy of the identity card (myKad) of the applicant and spouse 

  2. Employment details

  3. Latest income Statement 

  4. EPF statement

  5. Details of property owned 

  6. Completed application form

 

Other information required for online registration

  1. EPF number

  2. LHDN number

  3. Employment details of applicant and spouse 

  4. Details of other property owned

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News  & Updates 

October 10, 2017 More than 250,000 PR1MA units approved to date

http://www.thesundaily.my/news/2017/10/10/more-250000-pr1ma-units-approved-date

 

May 6, 2017 Govt's PR1MA housing a blessing for low and middle income groups to own houses - Buyers

http://www.thesundaily.my/news/2017/05/07/govts-pr1ma-housing-blessing-low-and-middle-income-groups-own-houses-buyers

 

February 15 2017 Limit PR1MA’s special end-financing scheme to first-time buyers, says HBA

http://www.thesundaily.my/news/2162366 

 

January 18, 2017 Shorter moratorium on PR1MA home resale will lead to speculation: HBA

http://www.thesundaily.my/news/2131507 

 

January 17, 2017 Income eligibility for PR1MA homes increased (Updated)

http://www.thesundaily.my/news/2130272

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