Will EPF allocate more funds for first-time home buyers?

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EPF's Stance on Additional Funds for First-Time Home Buyers Remains Unspecified

The Employees Provident Fund's (EPF) decision regarding the National House Buyers Association's (NBA) request to allocate more funds from Account Two for first-time homebuyers remains unconfirmed. The NBA specifically urged the EPF to consider these additional funds as a top-up loan for deposits.
Call for Increased EPF Allocation for Home Deposits

The National House Buyers Association (NBA) has formally requested the Employees Provident Fund (EPF) to increase the funds available under Account Two. This proposed enhancement is intended to serve as a supplementary loan option for individuals purchasing their first home, specifically to assist with deposit payments.
Budget 2017 Proposals and Criticisms

The context for this request arises from discussions surrounding Budget 2017. While property valuers, represented by the Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector (PEPS), expressed disappointment for the budget's failure to address the property market slowdown, house buyers generally welcomed it. PEPS had proposed measures such as reintroducing the Developer Interest Bearing Scheme (DIBS) for first-time buyers and encouraging government agencies to identify surplus lands for affordable housing joint ventures.
Housing Affordability Measures in Budget 2017

Budget 2017 did include several measures aimed at improving housing affordability. Notably, it announced a full stamp duty waiver for first-time buyers of houses costing up to RM300,000. Additionally, a special loan scheme offering between 90 per cent and 100 per cent financing from participating banks for first-time buyers was introduced, alongside plans to construct 10,000 homes for rent targeting young working adults. The NBA also stipulated conditions for affordable housing, suggesting prices between RM150,000 and RM300,000, with a cap of RM300,000 in prime locations, and strict reservation for first-time buyers.

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Will EPF allocate more funds for first-time home buyers?

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