Skim Rumah Pertamaku (SRP) - My First Home Scheme was first announced in the 2011 Budget by
the Malaysian Government to assist young adults who have just joined
the workforce, earning RM3,000 per month or less to own their first
home.
The Scheme allows young adults to obtain 100% financing from financial institutions, enabling them to own their 1st home without the need to pay a 10% downpayment. This is in line with the Government’s aspirations of increasing home ownership amongst the “rakyat”.
In the 2012 Budget, it was announced that the maximum property value be increased from RM220,000 to RM400,000, effective from 1 January 2012.
