KUALA LUMPUR: RHB Research Institute expects mass housing developers such as Hua Yang and LBS in the Klang Valley region to benefit from the My First Home Scheme which was officially launched by the Prime Minister on Tuesday, March 8.
The research house said on Wednesday, the scheme would allow first time home buyers with monthly income of less than RM3,000 to obtain 100% financing for houses costing between RM100,000 and RM220,000, with a repayment period of up to 30 years. The Government through Cagamas Berhad will bear the costs of the initial 10% deposit for the house.
Though the scheme was announced in the Budget 2011, RHB Research said the direct beneficiaries will be the mass housing developers such as Hua Yang and LBS in the Klang Valley region, and to some extent such as SP Setia, IJM Land, Mah Sing and KSL'' for their projects in Johor pricing at below RM220,000.
'Overall, we are neutral on this news as this was largely priced in in the property sector,' it said.
The research house said on Wednesday, the scheme would allow first time home buyers with monthly income of less than RM3,000 to obtain 100% financing for houses costing between RM100,000 and RM220,000, with a repayment period of up to 30 years. The Government through Cagamas Berhad will bear the costs of the initial 10% deposit for the house.
Though the scheme was announced in the Budget 2011, RHB Research said the direct beneficiaries will be the mass housing developers such as Hua Yang and LBS in the Klang Valley region, and to some extent such as SP Setia, IJM Land, Mah Sing and KSL'' for their projects in Johor pricing at below RM220,000.
'Overall, we are neutral on this news as this was largely priced in in the property sector,' it said.
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