Just a few days ago, I wrote about demand for property in Malaysia is likely to be huge. This is despite the fact that less Malaysian babies are born nowadays. In fact too few for comfort. Read here: 2015: Birth-rate dropped to 1.9 for Malaysia Today, I read in Bernama that under the MyHome housing scheme, about 90,000 applications have been received. This is a scheme where the private developers are taking the lead. This is a scheme under the National Housing Department and thus far, a total of 29 developers involving 31 projects with a total of about 10,000 units have been approved. This is out of a total of 98 applications submitted to build 108 housing projects involving 26,461 units since April when the scheme was launched. 
The few states with the most applicants are from Selangor followed by Johor, Penang, Sabah, Sarawak and Perak.This scheme is aimed at first-time home buyers with household income of between RM3,000 to RM6,000 per month. Subsidy provided to these home buyers are up to RM30,000. With such a huge number of applicants, it’s obvious why many developers are applying to build. There’s already a ready demand and they do not need to worry too much about selling what they build like what is happening to some new launches today. 
A check online for the details for MyHome showed the minimum allowable size is 800sf while the selling price ranges from RM50,000 to RM220,000 after a subsidy of RM30,000 for the qualified buyers. These prices are indeed attractive if the location is very convenient. However, if we need to get a home sooner, there are also options in terms of secondary properties below RM300,000.
The only issue perhaps would be the location as well as the condition of such properties. Sometimes buying secondary may mean more money for renovations too. The advantage is that these properties are already ready and the buyer can move in as soon as all the necessary processes are completed. Take a look at some available potential projects. I attached a sample from propertyguru.com.my Just check online for more. Be open, there are choices whether its a new one or a secondary one. Happy buying your first home.
written on 10 Aug 2015
Next suggested article: The location less loved by many, perhaps.
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