SABAH PROPERTY NEWS
Look East, Only Closer
household income are between
RM2,500 and RM10,000 per month.
Chris Tan, managing partner of
Chur Associates
O
ne can’t help but to feel
the déjà-vu sensation
upon every year’s
budget speech made by
our Prime Minister.
For the last three years, Datuk Seri
Najib Tun Razak has introduced
PR1MA to drive housing with an
allocation from the initial RM500
million to the recent RM1.3 billion
of Budget 2015.
Since Budget 2011, housing the
nation has always been a key
agenda and the Government
has started off by introducing My
First Home Scheme through the
establishment of Cagamas Bhd
that will provide a guarantee to
banks for the financing of 10%
downpayment for houses below
RM220,000.
Aiming at the low to middle income
groups, this is a new governmental
home widely known today as
“affordable housing”.
As a legal practitioner, one should
always start with the definition of
“affordable” before GvV