Jakarta:The Housing Credit Guarantee Scheme (SJKP) will see financing guarantees of up to 120 percent, covering costs related to renovations and home furnishings, including appliances like air-conditioning units. This initiative is aimed at assisting young people in purchasing their first homes.

According to BERNAMA News Agency, Prime Minister Datuk Seri Anwar Ibrahim announced an additional RM20 billion for the SJKP guarantee fund during the tabling of Budget 2027. This move is expected to support another 80,000 first-time homebuyers in the coming year, adding to the more than 100,000 who have already benefited from the scheme.

Housing and Local Government Minister Nga Kor Ming expressed support for the full stamp duty exemption for first-time homebuyers on properties priced at RM500,000 and below, and a 50 percent reduction for homes priced at RM750,000 and below, starting January 1, 2027. These measures are anticipated to ease the financial burden on first-time buyers.

Additionally, the Housing and Local Government Ministry will receive RM1.16 billion in 2027 for public housing maintenance. This includes RM157 million allocated for the People's Housing Programme, with funds directed towards maintenance work such as lift replacements, roof repairs, and building repainting to enhance resident comfort.

Furthermore, the budget increases the allocation for maintaining non-Muslim places of worship to RM80 million and provides RM100 million for the development of Chinese new villages. Minister Nga described the budget as people-centric and visionary, aimed at bolstering the national economy and improving citizens' well-being.