Am I Eligible for Affordable Housing?
Here are some basic requirements for you to fulfill in order to be a proud homeowner of the affordable housing.
1. You must be a Malaysia citizen
2. You must be a registered voter in Penang and met ONE of the following criteria:
i. Penang-born working in Penang
ii. Residing in Penang for at least 5 years from the date of application
iii. Bachelor degree holder or diploma with a minimum 2 years work experience (talent & skilled category)
3. Aged 21 years and above as at the date of application.
4. Total household (husband and wife) income not exceeding RM12,000 per month.
Refer to the table below for the threshold in different categories:
5. For Low Cost/Low Medium Cost applications, the applicant and spouse must not own any property in any state in Malaysia
6. For Affordable Housing applications, the applicant and spouse must not own any property in any state in Malaysia with the following exception:
- The property that the applicant currently owned is a LMC or LC home
7. For talented and skilled category, the applicant will also have to undertake to be in Penang for a minimum of 5 years from the date of handover of keys of the said affordable housing unit.
What is “Talent & Skilled Group”?
It refers to the knowledge workers with Degree qualification or Diploma holders with minimum of 2 years of working experience from any recognized institute of higher learning. Talents must also be employed by companies registered and operating their businesses in Penang.
To apply under “Prioirty Affordable Housing Scheme for Talent & Skilled Group”,
1. Employee must submit completed PN1 Form to either:
- Bahagian Perumahan Pulau Pinang (KOMTAR L3), or
- directly to the developer of choice housing project
2. Employer may recommend employee for this priority scheme by submitting Certification Letter & Recommendation to investPenang.
3. investPenang will vet through company’s recommendation and forward the endorsed Recommendation Letter to State Housing Division.
4. Successful applicant needs to produce Statutory Declaration to work in Penang for a continuous period of 5 years from the date of S&P.
NOTE: This is a priority scheme and not a guarantee for approval.
Open Market Units
In order to stimulate the development of affordable housing, it has also been decided that 30% of the units in any particular 100% affordable housing project may be sold to the open market, with the following condition:
- The units are to be sold at 10% above the controlled price in South West, SPU, SPT and SPS districts.
- The units are to be sold at 20% above the controlled price in North East district.
- The purchaser has to be a registered voter in Penang
- The purchaser can only purchase one such affordable housing unit
- The said unit cannot be sold within 5 years from the date of vacant possession.