The price cap increase to 300k for cities, urges Mah Press statement by Dato Mah Siew Keong, Gerakan vice-president and chairman of national economic bureau

Gerakan welcomes the brilliant idea of the My First Home Scheme that benefits the young working adults earning less than RM3,000 a month to obtain up to 100% housing loan for houses costing between RM100,000 to RM220,000. 

However, Gerakan National Economic Bureau Chief and Vice President, Dato’ Mah Siew Keong said RM220,000 is only reasonable for properties outside the Klang Valley but not houses in Klang Valley .   

“The houses particularly in Kuala Lumpur, Penang and Johor Bahru were so expensive that they were beyond the read of average-income earners. We urge the government to not set a standard price cap for all places due to the varying price of property at places like KL, Penang and Johor Bahru where the cost of a property is higher,” he added.   

Dato’ Mah finds that a ceiling of RM300,000 is a more practical figure for houses within the KL, Penang and Johor Bahru because even condominiums around Seri Kembangan and Puchong are generally costing more than RM250,000.  

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