PR1MA Phase 1 to feature 15 projects offering 20,000 homes priced under RM350K

Property News/ 29 August 2013 Leave a comment

Also plans to launch new projects in Setapak and Jln Jubilee in KL, Bayan Lepas in Penang, JB, Sabah and Sarawak soon.

More than 20,000 homes will be built under 15 affordable housing projects in Greater Klang Valley, Johor, Penang, Sabah and Sarawak.

“These 15 new developments are under Phase 1 of the PR1MA programme. I am confident that by year-end, we will have more on board to meet the 80,000 homes as announced in Budget 2013,” said PR1MA Corp Malaysia CEO Datuk Abdul Mutalib Alias.

Specifications of the 20,519 houses, including pricing and floor plans, will be announced in the next few months.

Prices of the houses are below RM350,000, he said at a press conference yesterday.

On top of the 15 projects approved, there are also plans to launch new projects in the next few months in Setapak and Jalan Jubilee in Kuala Lumpur, Bayan Lepas in Penang, two others in Johor Baru and one each in Sabah and Sarawak.

Infrastructure work on three of the projects, namely Alam Damai, Cheras; Pasir Gudang, Johor; and Seremban Utara had started, said Abdul Mutalib.

The units range from 1,400sq ft to 1,700sq ft for landed properties and between 670sq ft and 1,300sq ft for high-rise units.

Buyers should be able to take ownership of the houses within 24 months for landed houses, and 36 months for high-rise residential ones from the signing of the sales and purchase agreement.

Abdul Mutalib said it had received 250,000 registrations for the PR1MA houses and urged eligible buyers to register.

He also cautioned interested buyers on scams involving fee collection by some quarters for the housing scheme application.

“No fees are imposed on the registration of PR1MA houses,” he said.

Eligible applicants aged 21 years and above, who do not own more than one property in Malaysia and have an individual or combined gross monthly household income of between RM2,500 and RM7,500, can apply via www.pr1ma.my.

He added that the properties cannot be transferred or sold to another party under a 10-year moratorium and that the homes must be owner-occupied.

Source: StarProperty.my

  1. jo
    August 29th, 2013 at 15:29 | #1

    Good for Penang lower and medium income earner / ppls in Penang, Fed goverment start to deliver the promise to built more affordable home for Penang ppls. This is what we need right now.

  2. HUAT
    August 29th, 2013 at 16:09 | #2

    Anyone got lobang on how a buyer can buy more then 1 of these PR1MA? The landed seems attractive but not sure if penang is landed or high rise. High rise also can sapu..

  3. Ah Dog
    August 29th, 2013 at 16:16 | #3

    About 2500 units on Penang Island! I think average size would be at 700sf. Really a good news for 1st time buyers with limited budget.

  4. Ah Dog
    August 29th, 2013 at 16:58 | #4

    I don’t think you want to sapu! need to wait 10 years only can resell.

  5. kenny
    August 29th, 2013 at 17:50 | #5

    Prices of the houses are below RM350,000 = HOW MUCH??? RM349,000???

  6. kenny
    August 29th, 2013 at 17:51 | #6

    what is mean by affordable housing projects?? cost rm350,000??

  7. ezalor
    August 29th, 2013 at 18:06 | #7

    <RM350,000 for smallest 670sqt house consider affordable?

  8. jo
    August 29th, 2013 at 18:06 | #8

    More affordable house will be in market, latest news property executives has approved RPGT to inrease for those property sold in 2 and 3 year from 15% to 25%. Also stated very high chances wil be introduce in 2014 budget on coming oct. Hope all this new control will cool down property price.

  9. Low
    August 29th, 2013 at 18:08 | #9

    RM350,000 dosent sound very affordable to me , imagine the normal house cost ..

  10. jo
    August 29th, 2013 at 18:13 | #10

    Good location like Glugor for 350k is very good price, even The pulse LMC unit 800sq ft now asking price is 390k

  11. HUAT
    August 29th, 2013 at 18:45 | #11

    Today 350k, 10yrs later easily 500k. At 500k 10yrs later siapa tak mau?
    Of course, must see location! Its good if can get at least 1.. Afterall, it is… Affordable!

  12. YES
    August 29th, 2013 at 19:46 | #12

    price correction coming with all these LMC projects being built.

  13. May
    August 29th, 2013 at 20:07 | #13

    Hopefully goverment will listen to Rakyat voice, understand basic need of the rakyat not the money maker, property developer or individual speculator, club member, property guru advice/need. Those ppls happy days will come to the end very soon.

  14. SLK
    August 30th, 2013 at 08:45 | #14

    Don’t draw any conclusion yet until the so call “Affordable house” physically available. I personally do not put high expectation for the project.

  15. Elmo
    August 30th, 2013 at 09:58 | #15

    The gov is ripping the citizen skin with that price. Anything more than RM250k is considering too expensive for combined income RM2.5k to RM7.5k. With interest rate 4.2% really pity these people.

    Affordable house should be build for those people who really need a home for family with affordable price.

    I only can make a remark that this shouldn’t be the price for the Malaysia citizen that really need a shelter.

  16. Hemsley
    August 30th, 2013 at 10:03 | #16

    jo :
    Good location like Glugor for 350k is very good price, even The pulse LMC unit 800sq ft now asking price is 390k

    Gelugor location is good, but this one is exactly right beside the new proposed bypass from Ayer Itam to Tun Lim express. If don’t mind the noise, still ok. but 350K for that, errr…..

  17. condomana
    August 30th, 2013 at 11:52 | #17

    I think RM350k is ok provided they build the RIGHT product. Gov built affordable housing has been historically synonymous with sub-standard, bare-minimum, congested apartments for the low income group. But with runaway property price coupled with speculation, even the middle income group cannot afford decent housing. Therefore, the need for high quality gov housing. In Spore, you call that HDB Executive Condos.

    It serves many purposes; (1) to provide good quality gov housing to cater to the middle income group, (2) to discard the old perception and neg stigma of gov housing by way of “inviting” the well educated and professionals to stay there resulting in good neighbourhood (3) to make it more difficult for unscrupulous developers from over charging house buyers by beating them in quality.

    So, we’ll see what these RM350k PR1MA apartments look like…..:)

    For all the wrongs they have done, this is one good opportunity for them to make something right.

  18. Bryant
    August 30th, 2013 at 13:49 | #18

    HDB EC is like private condo status with full facility. I think this RM350K affordable housing is like HDB flats only. Something like apartments only with minimal facility.

  19. Elmo
    August 30th, 2013 at 14:12 | #19

    It is HDB standard. EC is executive Condo different segment. SG Gov gives grants and what PR1MA gives? BTW.. HDB condo only 200+ and have grants. 2 bedrooms only SIN16k for those singles. 4 bedrooms between 220k till 360k but have everything done including the flooring.

  20. Economic Crisis
    September 2nd, 2013 at 21:47 | #20

    So fuel prices finally rising… 20sen per litre or just over 10%… now since all the ignorant people on here equate any rise in prices with inflation then I guess this must be inflation… and if this is inflation that means that house prices will also rise by just over 10% tomorrow RIGHT???

    Looks like property prices will start collapsing sooner then I anticipated… :)

  21. Economic Crisis
    September 2nd, 2013 at 21:55 | #21

    How sad is it to see so many people that drive expensive cars RM100k+ lining up at the petrol stations around Penang just to save RM10… So many Penang people think they are rich??? The only thing they are rich in is DEBT…. and an illusion that property prices only ever go up… hehehehehe

  22. Angel
    September 2nd, 2013 at 22:04 | #22

    Inflation going to come very soon. Take note!

  23. Economic Crisis
    September 2nd, 2013 at 22:16 | #23

    Unfortunately the rise in property prices over the last 5 years have VERY LITTLE to do with inflation… But If you want property to go back to the long term average growth adjusted for inflation then property prices will have to drop by 40-50%… Which they will like they did in GREECE…

    Inflation will not help to keep property prices rising until property prices revert back to their long term average adjusted for inflation.

  24. Time bomb
    September 2nd, 2013 at 22:58 | #24

    Of speculators and bogus house buyers

    Immediate government measures are needed to tackle issue

    Harga Rumah Melampau” – that’s the desperate cry of the rakyat against skyrocketing house prices as headlined by one of the widely-read Bahasa Malaysia newspapers. In English, it translates to “House prices are ridiculous”.

    The National House Buyers Association (HBA) has consistently called for government intervention to prevent a “homeless generation of young adult Malaysians” from emerging, especially in urban and sub-urban areas, who, if not for wild speculation, would be able to buy their own houses.

    In time, Malaysia will face a “social crisis” with serious political implications if the majority of the lower and middle-income groups do not have affordable houses.

    The matter is of grave urgency because the homeless hail from the lower middle class, usually graduate couples or the self-employed earning reasonable income and expecting to buy a house to commence their family life in a fixed abode.

    In the Government’s drive to home ownership, low stamp duties have been imposed to encourage first-time house buyers to own a house.

    But speculators have taken advantage of this to accumulate multiple properties and manipulate property prices with conniving cash-strapped housing developers. There are three types of purchasers, namely:

    > Necessity: Those who buy out of need (owner-occupied),

    > Precautionary: Those who buy to hedge against inflation and for long-term investment, and

    > Speculative: Those who buy to “flip” and make money against everyone’s interest except their own.

    This is a “ticking time bomb” and immediate government measures are needed. The government needs to take proactive measures to stop the steep rise in property prices due to false demand and excessive speculation fuelled by easy mortgages and the low Real Property Gains Tax or RPGT.

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