PR1MA – Projek Perumahan 1Malaysia Launched
PM has launched the Phase One of Projek Perumahan 1Malaysia (PR1MA) on 4 July 2011, a programme specifically for middle-income group (below RM6,000) to own medium-cost housing pricing between RM150k to RM300k.
- The objective of PR1MA is to increase access for middle-income group to medium-cost housing and encourage the ownership of residential property.
- As a strategic initiative to meet the housing needs by large group of people, the Government took measures to implement PR1MA to provide moderate-cost housing aim specifically to fill gaps for people with household income of RM2, 500 to RM6, 000 per month.
- PR1MA will be implemented in urban and suburban areas across the country. PR1MA project will be started in the Klang Valley because of high demand and high real estate prices factor.
- Locations of PR1MA Phase One (click to view)
Type of Resident
- Units constructed will be a strata or landed type depending on the location and land size.
- Size of each housing unit is between 800 square feet to 1400 square feet with 3 bedrooms and 2 bathrooms.
- Selling price per unit is from RM150,000 to RM300,000 depending on the location and size of housing unit.
- Applicants who qualify to buy a PR1MA house must be Malaysian with income up to RM6,000 per month. Applicant also is the first time buyer for this Program and is required to stay in the PR1MA house.
- Qualified applicant can obtain loans up to 105 percent of financial institutions in respect of the repayment period up to a maximum of 30 years. The amount is included in house prices, legal costs and mortgage reducing term assurance (MRTA). Buyers will also be exempted from stamp duty.
- In addition, financial institutions also provide flexible loan repayment that is either based on interest servicing for the first 5 years or regular monthly payments. Buyers also have the option to use part of EPF contributions in two accounts to cover part of the loan or for the purpose of obtaining a higher value of loans from financial institutions through the mechanism of ring-fencing
For more details on the 1Malaysia Housing Programme (PR1MA), visit www.epu.gov.my