RM29.6b in housing financing approved under SJKP since 2021

KUALA LUMPUR: A total of 114,834 housing financing applications worth RM29.6 billion were approved under the Housing Credit Guarantee Scheme (SJKP) between 2021 and August 2026.

Housing and Local Government Minister Nga Kor Ming said 63,276 youths had benefited from the scheme, accounting for 50.9 per cent of its recipients as at Aug 31 this year.

"The achievement reflects SJKP's role in expanding access to housing financing, particularly for young people and first-time homebuyers who face difficulties meeting conventional financing requirements.

"The scheme helps first-time homebuyers, including youths, gig economy workers and individuals without fixed incomes, obtain housing financing through government guarantees of up to RM500,000," he said in a parliamentary written reply.

The scheme also takes into account different income sources and employment profiles, helping to reduce financing barriers for those who may not qualify under conventional lending requirements.

However, Nga said homeownership affordability also depended on individual income, property prices, existing financial commitments and credit eligibility.

Through the National Housing Policy 2026-2035, the government would continue to focus on providing affordable housing based on household income, actual demand and suitable development locations, he said.

The Housing and Local Government Ministry would also strengthen cooperation with state governments, housing agencies and private developers to identify potential new affordable housing developments.

"The government's priority is to ensure that young people not only have more housing options but are also able to own their first homes sustainably without taking on excessive financial burdens," he said.