KUALA LUMPUR — The government has reaffirmed its commitment to expanding home ownership, with the Housing Credit Guarantee Scheme (SJKP) now targeting to help more than 100,000 Malaysians own their first homes by the end of this year.
Housing and Local Government Minister Nga Kor Ming said the government had increased the SJKP financing guarantee ceiling by RM10 billion in 2025, bringing the total value of guarantees under the scheme since its launch in 2008 to RM40 billion.
“The government remains fully committed to empowering home ownership through SJKP, particularly for those who have long been excluded from conventional housing financing,” he said today.
As of Sept 30, 2025, SJKP had approved housing loan guarantees worth RM23.17 billion, successfully enabling 97,180 individuals to purchase their own homes.
Nga said the scheme is specifically targeted at the B40 and M40 income groups, including individuals without fixed incomes or formal salary slips such as gig economy workers, the majority of whom are young Malaysians.
“SJKP is designed to ensure that no eligible Malaysian is denied the opportunity to own a home simply because of income structure or documentation constraints,” he said.
Under the scheme, financing guarantees of up to RM500,000 are provided for first-home purchases, covering new properties, subsale units and auctioned homes. To further ease the burden on buyers, the government has also introduced guarantees of up to 120% of the property value to help cover down payment and related costs.
In addition, Nga said a “Step-Up Financing” mechanism was introduced from 2025 to reduce initial financial pressure on young homebuyers.
“Through this approach, monthly installments are kept lower for the first three to five years before increasing gradually according to a pre-agreed schedule,” he said.
Looking ahead, Nga said the Housing and Local Government Ministry (KPKT) will engage Bank Negara Malaysia in the near future to encourage broader participation from all banking institutions.
“This is to ensure the full support of financial institutions in implementing SJKP and strengthening the national housing policy,” he added. – January 21, 2026