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Owning a home more attractive than paying student loan

Owning a home more attractive than paying student loan

KUALA LUMPUR: Housing and Local Government Minister Zuraida Kamaruddin is confident that first time home buyers would be more motivated to pay for their first homes as they are rewarded with a house, compared to settling their education loans.

“The ability to own a home is more attractive. The reward is they will have home,” she said at the press conference after officiating the launch of Hi- Home property conference at the Malaysian International Trade Exhibition Centre.

“They will manage PTPTN and home (loans).  There will be a mechanism in place,” she said.

PTPTN is the national higher education loan scheme.

Zuraida said this in response to concerns raised by Some Darby that had concerns over the ability of home buyers paying for their homes.

Zuraida was present with Youth and Sports Minister Syed Saddiq Syed Abdul Rahman.

She also urged youths to be more prudent and disciplined in managing their finances.

She added that efforts must be taken so that the young can own property from a young age.

Responding to another question Zuraida said that subsidy removal will not affect the ability of the poor from owning homes.

“The low cost flats were subsidised until RM150,000 for low cost flats.  Under the new government policy, state governments will provide the land.

Home prices will range from RM 90,000 to RM300,000 and averages at RM120,000.

She added that her ministry is also focused on housing for the B40 and M20 groups.  

Syed Saddiq meanwhile dispelled the notion that boosting home ownership would impact the house rental sector negatively.

“There is also rent to own option. It will complement not hurt the other sectors. Having choices will empower young people more,” he said.

On that note he also said that the government will be formulating a youth housing policy by year end.


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