Better Malaysia Foundation (BMF) launches programme to make homes affordable to B40
Updated: Apr 25
27 April 2021 - I am truly privileged to be invited and be part of the BMF committee for this social enterprise programme. I thank both chairman Tan Sri Dato’ Seri Vincent Tan and deputy chairman Datin Seri Sunita Rajakumar for this opportunity to contribute in this novel programme as early as 2019.
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Source: http://ipaper.thesundaily.my/epaper/ published 27 Apri 2021
Malaysia's homes are seriously unaffordable
The unaffordable of housing is measured as Price to Income Ratio (PIR) where the housing market is more than 3x (the threshold), it signifies that the median house price is more than 3x the median annual household income. Malaysia’s PIR has been recorded between 4.1 and 5 consistently remains in the 'seriously unaffordable' condition.
The exigence of unaffordable housing and COVID-19 pandemic
The dual impact of unaffordable housing and coupled by multiple waves of COVID-19 pandemic have unfortunately bringing unimaginable woes to lives to less fortunate people especially the B40s.
BMF recognised Malaysians' plight and the exigence of affordable housing. Hence, BMF steps forward and promptly launch this game changing programme with 2 key focus areas that remain the most critical path. Firstly, financial services institutions to support 100% financing because down payment remains the first biggest barrier to homes for the B40s. Secondly, a suggestion to the Government to guarantee for the loan undertaken by B40s because of low credit score that result high loan rejection from financial services institutions.
First of its kind show unit ready for viewing
BMF together with Berjaya Land not only assembled a team of professional brain trust but developed actual show unit of 900 sq feet of 5 bedrooms and 4 bathrooms apartment unit ready for viewing by appointment.
Call for support and contact us
I invite everyone who are interested to support this initiative to come forward to lend your hand to contribute for the greater good cause of nation building. Please contact Yap Far Loon at supportaffordablehousing@aleevar.com.
Click here to access the full article on Better Malaysia Foundation (BMF) launches social enterprise programme to make homes affordable to B40.