THE Ministry of Housing and Local Government has reaffirmed its commitment to helping young Malaysians and gig economy workers own their dream homes through a range of initiatives under the 2026 Budget.
Minister Nga Kor Ming said the Madani Government is guided by the principle of “leaving no one behind” to ensure the welfare of all citizens.
“Under the 2026 Budget initiatives, the Madani Government is allocating an additional RM10 billion for the Housing Credit Guarantee Scheme to assist 80,000 homebuyers.
“Through this scheme, the government acts as guarantor for up to 120 per cent of loans to help young people and gig workers who do not have fixed salaries, provided they are not blacklisted by any financial institutions,” he told RTM in an interview on Friday.
Nga highlighted that as of 31 July, the scheme had benefited 93,231 applicants, with total guaranteed housing loans reaching RM22.1 billion. Around 67 per cent of these involved homes priced below RM300,000, helping many young Malaysians realise their goal of home ownership.
He added that the 2026 Budget also provides stamp duty exemptions for first-time homebuyers until 31 December 2027.
“We encourage young people to purchase homes. Through these policies and initiatives, the government aims to help them achieve the dream of owning their own residence. First-time buyers purchasing properties priced at RM500,000 and below are eligible for stamp duty exemptions, saving up to RM10,000 and easing their financial burden.
“At present, Malaysia’s home ownership rate stands at 76.5 per cent, reflecting healthy growth trends. The 2026 Budget initiatives not only help citizens secure their dream homes but also sustain stable growth in the property sector,” he said.
The minister also emphasised the government’s commitment to providing quality affordable housing, including PR1MA homes priced around RM300,000 in urban areas and Rumah Mesra Rakyat units at approximately RM75,000 on private land via the National Housing Company, with RM20,000 subsidies per unit.
“Through these initiatives, the Ministry hopes more Malaysians, particularly young people and gig workers, can own homes and enjoy a better quality of life in line with the aspirations of the Madani Government,” he said. - October 24, 2025
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