KUALA LUMPUR, Oct 18 — Almost RM900 million has been allocated for the implementation of 48 ‘Program Residensi Rakyat’ (PRR) and 14 ‘Rumah Mesra Rakyat’ housing schemes under Budget 2025, said Prime Minister Datuk Seri Anwar Ibrahim.
This includes the construction of two new PRR projects in Port Dickson and Seberang Perai Tengah.
“Thirty PRR projects are expected to be completed by the end of 2025, benefiting nearly 17,500 new residents. The Housing Credit Guarantee Scheme has approved RM12.8 billion in government guarantees to over 57,000 first-time homebuyers,” he said when tabling the budget in the Dewan Rakyat today.
Close to RM200 million has been set aside for the maintenance of public low and medium-cost strata housing, including replacing ageing elevators.
“In addition, 48 Madani public parks will be upgraded, covering recreational areas and beautiful landscapes in urban areas and small towns, with an allocation of almost RM100 million.
“RM84 million will be allocated to Chinese new villages, primarily to upgrade basic infrastructure and social facilities for the local communities,” Anwar said.
To encourage first-time home ownership, the government is proposing a personal tax relief of up to RM7,000 on housing loan interest payments, including tax relief of up to RM7,000 for residential properties priced up to RM500,000.
“A tax relief of up to RM5,000 will be granted for residential properties priced between RM500,000 and RM750,000. This relief can be claimed for three consecutive years of assessment for sale and purchase agreements completed between January 1, 2025, and December 31, 2027,” he said.
Meanwhile, the basic infrastructure in rural, village, and remote areas will continue to be prioritised to improve the quality of life, with a RM2.9 billion allocation.
— Bernama
