Good news for those who plan to buy a house this year! The Youth Housing Scheme (Skim Perumahan Belia) is open for applications until 31 December 2021.
The Youth Housing Scheme is a house purchase support by the government of Malaysia to allow young people to receive a monthly house installment incentive of RM200. It’s a program designed to help both single and married youths to take that first important step into property ownership.
Government offers financing for completed, under construction, or sub-sale homes, providing comprehensive support that covers property purchases throughout Malaysia’s housing market. Youth Housing Scheme covers properties from RM100,000 up to RM500,000 for eligible applicants aged 21-45, and the total monthly household income cannot exceed RM10,000.
Under the Youth Housing Scheme, an applicant can receive a monthly bonus of RM200 to pay house loans for up to 2 years. Stamp duty on the first RM300,000 house price will be exempted through this scheme. The RM200 bonus will be distributed monthly through BSN’s GIRO / GIRO-i account.
100% housing loan cover
The main documents you are required to submit are the application form, your NRIC, stamped Sale & Purchase Agreement. Together with these documents, you attach the following:
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