Hi Everyone,

I wanted to see what my fellow sifus think about the new MyDeposit scheme.

New first home owners are able to get contribution of 10% from the sale price, or maximum of RM30,000 (whichever is lower), will be given to first-time buyers looking for homes priced below RM500,000. (Only available to households with <RM10,000

I agree that it is a good idea in the sense that it helps the poor but will it inflate the pricing for the housing market? What about the unforeseen circumstances? I imagine that housing at <500k will definitely go skyrocketing

Honestly to me it sounds like a BR1M, but I think it does work for subsale prices right. That would be so so sweet. I can't find this website they are talking about so can't really find out more about the details.

I dont think they will care whether ur renting out or not. They didnt mention anyhting about own-stay. This is more for ppl who just want to buy a house. Much more flexible than the PR1MA housing nonsense

Haha absolutely man! For this almost everyone can qualify.. its crrrrazzzyy

this isn't pr1ma.. this is just a govt scheme to give out money to the homeowner to buy their first property. so far no T&c's given out. Maybe our fellow sifus can help search the net to find

Thats true. People always ask for the 10% deposit as a show of good faith that the owner can pay up. Now if the owner can't even afford the down payment and buys up all these houses won't there be like thousands of auctioned properties in the next few years? Honestly, if you can afford to pay the down payment, you really shouldn't be buying a house

I would imagine it'd be something like a reimbursement from the government. So you would first apply to get the payment from the govt and then having seen the spa agreement then the government would pay the seller?

Not sure but giving away cash to "potential homeowners" doesnt seem to make sense

haha free money who don't want. I bet if they were to queue up.. would prob be the longest line ever in malaysia

wow thats a long sekatan 10 years.. at least they were smart enough to put that in

Yea I once met a security guard who told me his pay was 500 rm... Asked him how he survives... Then we went for lunch.. Seriously just eating curry + cabbage n rice. No meat .. N not even some potatoes.

I'm glad there is some initiative but I feel that the middle class (which I am in) may not need so much help to be honest as the poor ppl. I personally feel this plan could have been better thought out. Not sure how... But this doesn't seem like the right solution

wnder whether we r gonna see a new price hike in property prices.. nowhere to stay already like that..

has anyone heard back from them? A bit soon but would be good to know

Haha cannot be what right. Only first home buyers eligible

ah well.. only 6000 ppl could get it anyway

Think u will only get the 3%....

I guess this is what we get from a poorly thought out scheme