Will Malaysia achieve its 500,000 affordable homes target this year?

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Malaysia is on track to meet its 500,000 affordable homes target this year.

The MADANI government's objective to construct 500,000 affordable housing units under the 12th Malaysia Plan (12MP) is nearing completion. As of December 1 last year, a significant 93.9 per cent of this target, amounting to 466,421 units, had been completed, were under construction, or were in the process of securing planning approval. Housing and Local Government Minister Nga Kor Ming has expressed confidence that the remaining units will be realised by the end of this year.
Progress Towards the 12MP Housing Target

The 12th Malaysia Plan set an ambitious goal of delivering 500,000 affordable homes. Current progress indicates that 466,421 units have reached various stages of development, including completion, active construction, or pending planning approval, as of December 1, 2023. This substantial achievement represents 93.9 per cent of the overall target.
Continued Acceleration Under the 13MP

Looking ahead, efforts to expand homeownership opportunities, particularly for young Malaysians, are slated to be further intensified under the forthcoming 13th Malaysia Plan (13MP). This indicates a sustained commitment from the government to address housing needs beyond the current plan's conclusion.
Initiatives Supporting Homeownership

To bolster these efforts, the Ministry of Housing and Local Government will expand key programmes. The People’s Residency Programme (PRR) and the People’s Friendly Homes (RMR) initiative are set to receive an allocation of RM900 million, which includes provisions for 5,410 RMR units under the 2025 Budget. Furthermore, the government supports first-time homebuyers through the Housing Loan Guarantee Scheme (SJKP) under the i-Biaya initiative. This scheme provides funding of up to RM500,000 and has seen considerable uptake, with 76,664 applications totalling RM17.6 billion approved as of last year.
Stable Housing Market Conditions

In addition to the progress on affordable housing construction, recent data from the National Property Information Center (NAPIC) suggests a stabilisation in house prices. This indicates that the market conditions are becoming more favourable for potential homeowners, especially within the low and medium-income groups targeted by these initiatives.

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Will Malaysia achieve its 500,000 affordable homes target this year?

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