Perumahan Rakyat 1Malaysia (PR1MA) - Properties for people

by - Sunday, March 31, 2013

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When at first I heard about "Perumahan Rakyat 1Malaysia (PR1MA)", the first thing came into my mind is about politician. Well, let's not talk about politician over here. Most people are aware regarding the properties price that keep increasing and it is hard for people to get their dream house unless you have solid and stable income. Last month, I was searching my new office for CVS Production and most of the properties can simply cost me 1.6m. Meaning that monthly I need to have at least 20k if I want to get 30 years loan. I'm not surprise because I have been doing commercial architecture shoot for quite sometime and I know the market rate. Since I do have interest on properties, I love to observe how the developers play around with the pricing. Some marketers even increase the properties price up to 400% from the actual rate and yet still manage to sell a lot of properties.

Currently, government came out with Perumahan Rakyat 1Malaysia (PR1MA) whereby people with an average monthly household income of between RM2,500 – RM7,500 able to own their "dream" house. Based on the illustration photos that show in their website, their properties kinda cool.

For those who plan to apply or already apply, please share with me your thought or experience.

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ELIGIBILITY:
- Applicant must be a Malaysian citizen.
- Applicant must be at least 21 years old at the time of the application.
- Open to Individuals or Families (husband and wife) with an average monthly household income of between RM2,500 – RM7,500
- Those who currently own no more than one property.
- Additional guidelines set-forth by states

Note:
- PR1MA homes will be allocated through an open balloting process.
- Selection of house units by the successful balloted owner will be based on
   the balloting sequence.
- A 10-year moratorium will be imposed, during which the property cannot
   be sold or transferred to another party without prior approval from PR1MA.
- PR1MA homes must be owner occupied.

How to apply? HERE!
You may want to check out their developments and location too, HERE!
For more information, visit http://www.pr1ma.my/

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