5,276 applications for MyDeposit

PUTRAJAYA: A total of 5,276 applications were received for the First House Deposit Financing Scheme (MyDeposit) between April 7 and June 14, this year.
Urban Wellbeing, Housing and Local Government Minister Datuk Abdul Rahman Dahlan said the applications were for 3,090 new houses and 2,186 subsale units.
"The three states with the highest number of MyDeposit applications were Selangor, Kuala Lumpur and Penang," he told reporters after handing out MyDeposit offer letters to the first 40 of the scheme recipients involving an allocation of RM1.09 million, at the ministry, here, today.
Abdul Rahman said that until June 5, 1,311 applications had been processed and out of this number, 425 were found to be eligible for the scheme.
The MyDeposit scheme, announced by Prime Minister Datuk Seri Najib Abdul Razak when tabling the 2016 Budget last Oct 23, was created with a fund of RM200 million from the government to assist first-time house buyers with the deposit payment.
The deposit payment is limited to 10% of the house price or a maximum of RM30,000, whichever is lower, for the purchase price of RM500,000 and below.
Abdul Rahman said 6,600 to 10,000 first-time house buyers would receive the benefit through the MyDeposit scheme, based on the estimated deposit financing by the government of RM20,000 to RM30,000 for each applicant.
"Hopefully, the total allocation of RM200 million for the MyDeposit scheme could be chanelled to the eligible applicants by the year-end."
Abdul Rahman also said that the government targeted building one million affordable houses until the end of 2017.
From this number, the 1Malaysia People's Housing Project (PR1MA) will build 500,000 units and the other 500,000 by other agencies like the National Housing Department, Syarikat Perumahan Negara Berhad (SPNB), the state governments and private housing developers. — Bernama