Government Initiatives For First Time House Buyers

Post at:

Government Initiatives For First Time House Buyers

Speak to any old folk and they will be able to advise you that everyone should own a house and that the longer you wait, the more expensive houses become.

That said, there is no better time than now to own your first home, what with interest rates still relatively low and various initiatives rolled out by the Government to help first time house buyers like yourself.

With the Skim Rumah Pertamaku (SRP) and Keluarga Malaysia Home Ownership Initiative (i-MILIKI), it is possible to fulfil your dreams of owning a home at the masterplanned township of Bandar Baru Sri Klebang in Ipoh.

Skim Rumah Pertamaku (SRP) – My First Home Scheme

Most people will apply for housing loans with financial institutions but for some, this may not necessarily work out. This is especially true for those who are just starting out in their working lives and cannot afford the down payment.

Realising the predicament of this set of house buyers, the Government introduced this home ownership initiative years back during Budget 2011. This scheme allows Malaysian citizens with household incomes of RM5,000 and below, who are purchasing property worth up to RM300,000, to obtain up to 110% financing from participating banks. This is to enable home ownership without having the need to pay a down payment. How this works is Cagamas SRP Berhad (CSRP) guarantees up to the first 20% of the loan on a ‘first-loss’ basis.

For salaried workers and self-employed individuals with household incomes of up to RM10,000, you can apply for a 100% loan on properties costing a maximum of RM500,000.

To find out more about Skim Rumah Pertamaku, visit

Keluarga Malaysia Home Ownership Initiative (i-MILIKI)

There is further good news for those intending to purchase their first homes!

Recently on July 15, Prime Minister Datuk Seri Ismail Sabri Yaakob announced a 100% stamp duty exemption for first-time houseowners of properties priced RM500,000 and below from June 1, 2022 until December 2023, under the i-MILIKI initiative.

Meanwhile, those purchasing homes priced above RM500,000 to RM1mil will be eligible for a stamp duty exemption of 50%.

So, what are you waiting for? Find out if you qualify for these initiatives and book your dream home at Bandar Baru Sri Klebang! Visit or call/WhatsApp our Sales Team on 012-500 8018 now!