EDGEPROP. 20TH DECEMBER: The Ministry of Housing and Local Government is mulling the possibility of reintroducing the MyDeposit scheme by looking into a more viable and sustainable financing model for the benefit of the target group, the Dewan Negara was told on Monday (Dec 20).
Its Minister Datuk Seri Reezal Merican Naina Merican said although the government allocation for the scheme was stopped, the ministry acknowledged that the scheme had brought about a huge impact on first-house buyers, especially among the youth.
He said the scheme, during its first implementation since 2016 until Oct 31 this year, saw RM86.386 million in financing granted to 3,105 families involving 127 housing projects.
“Based on our records, 2,257 (72.6%) of the applicants aged between 21 and 35, followed by 778 applicants (25%) aged 36 to 45, and 70 applicants (2.4%) aged 45 and above,” he said during question time in reply to Senator Datuk Jefridin Atan.
The MyDeposit scheme offered an incentive of 10% of the house price or RM30,000, whichever was lower, to first-house buyers for houses priced at RM500,000 or below for recipients with household income eligibility of RM15,000 or below.