PR1MA Homes – Own one

primaMany have been saying that the property prices are no longer affordable. Actually, my view remain the same, I do not agree. This is because there are still choices but people only want to consider where they want to buy. If I want Cheras, I only want Cheras. I will not look at Kepong or Selayang or Rawang. I want Cheras, don’t you understand? That is however another matter. Today, we look at PR1MA which were posted in a lot of news site as well as facebook sites. Some announcements are expected very soon on who has obtained the units offered. Where are they? Well, there’s a map provided in The Star which gives an idea where all the PR1MA houses are located.
requirementsWhat are the requirements? Briefly:
Additional notes:

  • Additional state guidelines may apply.
  • Selection of successful homeowners and allocations of PR1MA home units will be carried out through an open balloting process.
  • A 10-year moratorium will be imposed, during which the property cannot be sold or transferred to another party.
  • PR1MA homes must be owner-occupied. No sub-letting will be allowed.

For those who qualifies and has NO properties, please do apply. For those who already own a home, please let others own a unit. These PRIMA units will also help to stabilise the price of properties in the market. Not so much on the high priced ones but for those in the lower to middle ones, the prices would be stabilised. Now, for the hard part, how would the enforcement of ‘no sub-letting’ will be done? I seriously hope that this can be done so that those who wanted to take advantage of this scheme will refrain from applying. There are a lot of people who needs these units.
Next suggested article: Affordable Penang properties, where are they?


Comments

  1. Are we expecting Bank Negara remain the BLR rate because of Prima borrowers?

    1. Personally, No. BNM would adjust the interest rate to combat inflation and perhaps support the Ringgit a bit but I do not expect the BLR adjustment will be due to the property market. I am however not the BNM governor whom I have high regards for.

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