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This information is as of 14th August 2024

This professional analysis focuses on full home financing for RUMAWIP called SJKP loan offered by 4 banks:

RHB , Maybank , Hong Leong Bank & Bank Muamalat

Applicants must not earn above a gross of RM 11,000 or joint income (spouse) RM 22,000 (Individual who earn more than RM 11,000 and after combine with spouse end up with the total income of less than RM 22,000 IS NOT ELIGIBLE)

RHB

RHB Bank offers a SJKP loan with an interest rate of 4.7% to 5.1% (14th August 2024). RHB’s debt service ratio has a maximum limit of 65% (T&C must have nett disposable income of RM 800, in other words money left after servicing all loan including the one you are applying). The debt service ratio is a crucial factor as it determines the percentage of an individual’s monthly nett income (after deducting EPF & SOCSO) that can be allocated towards debt repayments. RHB Bank’s maximum debt service ratio of 65% implies that the borrower’s total monthly debt payments, including the housing loan you are applying, should not exceed 65% of their monthly income. Kindly be aware that variable income will be recognise as 50% net amount only. As for full commission earner; it’s either recognise at 50% to 100% of the nett amount of the commission earned. Lock in period 3 years. (early settlement will have penalty).

*RHB IS THE ONLY BANK THAT DOES NOT LOOK INTO PTPTN LATE PAYMENT FOR SKJP LOAN BUT ONLY CALCULATE IT INTO DSR

For example

Commission earned recognized as 50-100%

Example: Latest 6 months commision earned (sample for 80% income recognition)

RM 7,000
RM 7,300
RM 7,500
RM 6,990
RM 7,250
RM 7,800

TOTAL RM 43,840 divide by 6 (months) = RM 7306.6 X 80% = RM 5845 is the recognized nett income.

Latest 6 months commission earned (sample for 50% income recognition)

RM 7,000
RM 3,500
RM 7,200
RM 7,800
RM 7,500
RM 7,700

TOTAL RM 40,700 DIVIDE BY 6 (months) = RM 6783.3 x 50% = RM 3391.66 is the recognized nett income.

CONCLUSION : First choice among those who do not pay for their PTPTN repayment! Islamic financing only available for SJKP financing.

Maybank

Maybank provides a SJKP loan with interest rates ranging from 4.5% to 4.6%. The specific interest rate offered may vary based on factors such as the loan amount, tenure, and the borrower’s creditworthiness. Maybank allow a maximum debt service ratio of 60%. This indicates that the borrower’s total monthly debt payments, including the housing loan, should not exceed 60% of their monthly nett income. Maybank recognise all variable income at 70% (latest 6 months average) & take in share margin account into DSR calculation (the mechanism can’t be obtain). Zero lock in period. Non flexi loan (Individual is allow to pay extra to save on interest but won’t be able to withdraw it out again)

You may want to read more about DSR (debt service ratio) HERE

Conclusion: Slightly better rate, suitable for rich buyer who can pay off the house ! Convention or Islamic package avaiable.

Courtesy of,

Tammie Chew, MBB Mortgage Consultant (Taman Segar Branch)

Email : chiuhui@.c@maybank.com / HP 014-6828245

Hong Leong Bank

Hong Leong Bank offer 4.55 to 5.35% for SJKP financing. DSR cap at 65% and below. As for income earner of RM 3000 & below, DSR cap at 60% & NDI of RM 850 required. Variable income such as (OT, allowance & etc) recognise at 100%.

Semi Flexi Option Only Available (more info to be updated soon)

Courtesy of

Charlotte Yong, HLB Senior Mortgage Executive (Mortgage Sales Centre, PJ City Development)

Email: yongks@hlbb.hongleong.com.my / HP 60123128258

MBSB

MBSB term financing interest rates for RUMAWIP is from 5.05% to 5.25% (as of 14th August 2024). DSR set at the maximum of 80% with condition of NDI per applicant of RM 1000 (Nett Disposable Income or in simple term, the left over cash after all loan payment is made inclusive of the current application instalment). Tenure of financing is limit to only 30 years and up to age 70. Variable income recognition is at 60% (latest 6 months average) but capped max at 20% of fixed gross income (salary before deduction of EPF & SOCSO). For example, if the individual salary is RM 3000; no matter how much commission that person has earned for the last 6 months; the variable income recognition will be capped at RM600. Advance payment to principal is allow; but individual need to inform bank 1 MONTH IN ADVANCE! Lastly the lock in period is 5 years.

Please take note that individual banks have their own scoring system which play factor before approving a loan application; this I won’t be able to find out. (For example, during the covid lockdown, loan applicants from the airline industry will most probably be rejected)

Summary

RHB Housing Loan

Pros

Higher DSR of 65% for loan approval (NDI RM 800 & above)

Cons

Most probably higher interest rates

Lock in period of 3 years

Variable income recognition may go as low as 50% only

Islamic loan is semi flexi (can’t withdraw advance payment made)

Maybank Housing Loan

Pros

Most probably lower interest rates (as low as 4.25%)

No lock in period

Standardised recognition of variable income of 70%

Maybank is offering a better package for SKJP loan (in term of financing rates) as of 6th September 2023.

Cons

Loan approval subject to DSR of 60% only (please take not that due to the lower interest rates, DSR outcome will be lower too)

Term Loan which allow advance payment of principal to save on interest (need to inform bank via phone call to branch or walk in after payment made)

MBSB Housing Loan

Pros

Easy Approval – DSR allow up to 80% (benefit income earner of RM 4000 & above due to prerequisite of NDI of RM 1000 per applicant). Most applicant of RUMAWIP usually have taken up a car loan.

Cons

High Interest Rates 4.65%

Advance payment to principal requires 1 months notice to bank.

Max Tenure of 30 years (normally 35 years)

Lock in period of 5 years

Elijah is an esteemed real estate agent who has dedicated his expertise to the RUMAWIP program since 2018. With a reputation for unwavering honesty, he navigates the real estate landscape with straightforwardness and analytical insight. Alongside his role as a real estate agent, Elijah shines as a marketing consultant, collaborating closely with RUMAWIP developers. His dual perspective and commitment to affordability make him a trusted figure in the industry, consistently guiding clients and stakeholders toward informed decisions and successful outcomes.

A First-Time Home Buyer’s Guide: Investing in a RM 300,000 Property

As a first-time home buyer, stepping into the real estate market can be both exciting and daunting. Imagine purchasing a RM 300,000 property where your mortgage payment is cheaper than renting a similar property. Not only can this provide immediate financial benefits, but it also sets you up for potential future gains and financial security, including addressing concerns about insufficient EPF savings.

1. Comparing Mortgage Payments to Rent

When buying your first home, it’s important to understand how mortgage payments can compare to renting. Let’s break it down with a simple example. Suppose you take out a mortgage at a 4.55% interest rate for a 30-year term on a RM 300,000 property. Here’s how the numbers might look:

Using a mortgage calculator, your monthly mortgage payment would be approximately RM 1,535. Now, if renting a similar property costs around RM 1,800 per month, you’re already ahead by RM 265 monthly if you buy and rent it out.

*there is maintenance fee ..” (in the end you still own the property though)

2. Benefits of Renting Out Your Property

1. Positive Cash Flow: By renting out your property, the rental income can cover your mortgage payment, leaving you with extra cash every month. (selective RUMAWIP!)
2. Building Equity: With each mortgage payment, you build equity in your home, which is like a forced savings plan.
3. Tax Benefits: Rental properties come with tax advantages, such as deductions for mortgage interest, property taxes, and maintenance costs.

3. Addressing Insufficient EPF Savings

Many Malaysians worry about not having enough savings in their Employees Provident Fund (EPF) for retirement. Investing in property can be a solution to this concern:

• Supplementary Income: The rental income from your property can supplement your EPF savings, providing a steady stream of cash flow during retirement.
• Asset Accumulation: As you pay down your mortgage, you accumulate a valuable asset that can be leveraged in various ways during retirement.

4. Understanding Capital Appreciation

Over time, property values tend to increase. Let’s assume your RM 300,000 home appreciates at a conservative rate of 3% per year. After ten years, your home could be worth approximately RM 402,969. This increase in value is known as capital appreciation, and it significantly boosts your net worth over time. Some RUMAWIP prices goes up in a few years; it is shown in the action places where owner makes profit instead of going bankrupt.

5. The Option of a Reverse Mortgage

A reverse mortgage can be a valuable option later in life. It allows you to tap into your home’s equity without having to sell it. Here’s what you need to know:

• Eligibility: Typically for homeowners aged 65 or older.
• Payment Options: You can receive the money as a monthly payments
• Repayment: The loan is repaid when you sell the home, move out, or pass away.

This can provide you with additional income during retirement on top of your EPF funds, making your investment even more worthwhile. #CAGAMAS

6. Things to Consider

1. Market Variability: Property values can fluctuate, so it’s essential to be prepared for market changes.
2. Maintenance Costs: Owning a home means you’re responsible for maintenance and repairs, which can add up over time.
3. Vacancy Risk: There may be periods when your property is vacant, impacting your rental income.

Conclusion

For first-time home buyers, purchasing a RM 300,000 property with mortgage payments lower than rental prices is a smart move. Not only does it provide immediate financial benefits, but it also offers long-term gains through capital appreciation and potential income through a reverse mortgage. Additionally, this investment strategy can help address concerns about insufficient EPF savings by providing supplementary income and asset accumulation. Plus resale value is usually 20% higher compare to surrounding leasehold projects This approach can help you build wealth, secure a steady income stream, and ensure financial security for the future. Remember, thorough research and careful planning are key to making the most out of your real estate investment.

Rumawip.Com.My is the premier platform connecting potential buyers with the latest real estate listings and insider information. This cost-effective, high-impact marketing solution is tailored specifically for Residensi Wilayah property developers.

Key Benefits of Rumawip.Com.My:

1. Extensive Subscriber Base: As of August 6, 2023, our platform boasts 18,500 email newsletter subscribers and 14,600 Telegram subscribers. These high-quality leads surpass those from social media, ensuring you reach genuinely interested buyers.
2. Cost-Effective Marketing: By utilizing our property portal, you can significantly reduce costs associated with traditional advertising methods and high commission payouts. This approach filters out low-quality leads from social media ads, allowing you to focus on serious buyers.
3. Trackable Campaigns: Our platform offers easy tracking and measurement of your marketing campaigns, providing valuable insights and data to refine your future strategies. This helps optimize your marketing investments and evaluate campaign effectiveness.
4. Sales Efficiency: With our experience in RUMAWIP sales, we educate potential clients on preparing for bank loan applications months before their purchase. This reduces sales turnaround time, workload, and makes the selling process more efficient.
5. Increased Interest and Sales: Leveraging our property portal will boost interest and sales for your affordable housing projects. We excel in reaching your target audience quickly, aiding in obtaining bridging loans efficiently.

Why Choose Rumawip.Com.My:

• Rapid Client Reach: Engage with over ten thousand potential buyers within 24 hours, excluding social media leads.
• Pre-Qualified Buyers: Our system filters potential buyers for JWP & bank loans, educating them months in advance.
• Prevent Sales Delays: Avoid delays caused by unqualified applicants awaiting JWP approval.
• Cost Control: Enjoy a one-off charge without time constraints, not charged per lead.
• Efficient SOP: Our streamlined process ensures unmatched turnaround times, avoiding delays due to JWP approval backlogs and unqualified banking loan applicants.

Contact Us:

For corporate enquiries, please reach out to:

Tsalach Property Management Services
Address: A-5-10 Empire Tower, Jalan SS16/1, 47500 Subang Jaya, Selangor
Phone: 0350218220
Fax: 0350218221
Email: 88@tsalach.com.my
Person in Charge: Elijah Woo

© 2023 Tsalach Property Management Services

Are you curious about the real-life story of a RUMAWIP homeowner who faced significant challenges but ultimately achieved a profitable outcome? Discover how one determined individual turned financial hardship into a remarkable success under the RUMAWIP program “Residensi Kepongmas 2.”

Purchased for RM 240,000: The Initial Investment In an effort to secure affordable housing, the homeowner purchased a property under the RUMAWIP (Rumah Mampu Milik Wilayah Persekutuan) program. The “Residensi Kepongmas 2” house was acquired for a modest RM 240,000. However, the journey ahead was far from smooth.

Facing Mortgage Challenges Like many homeowners, this individual encountered difficulties with mortgage payments. Financial strain mounted, and the looming threat of losing the house became a harsh reality. The situation took a drastic turn when the bank decided to auction the property.

The Auction: A Turning Point Despite the grim prospects, the auction presented an unexpected opportunity. The house, initially purchased for RM 240,000, attracted competitive bids. Astonishingly, the property was auctioned off for RM 302,000. This unexpected turn of events allowed the homeowner to make a profit, turning a dire situation into a financial gain.

Understanding the Insolvency Act Amendment and Bankruptcy Threshold With the amendment to the Insolvency Act in 2020, the bankruptcy threshold in Malaysia is currently set at RM 100,000. This raises an important question for RUMAWIP buyers: Can they face bankruptcy?

Can a RUMAWIP Buyer Face Bankruptcy? Under the current regulations, a RUMAWIP buyer can indeed face bankruptcy if their debts exceed RM 100,000. It’s crucial for homeowners to stay informed about their financial obligations and seek professional advice if they encounter difficulties with mortgage payments.

Conclusion: A Story of Resilience and Financial Recovery This inspiring story of a RUMAWIP homeowner highlights the importance of resilience and adaptability in the face of financial challenges. While mortgage struggles can lead to severe consequences, unexpected opportunities can arise, offering a chance for recovery and even profit.

Stay informed about your rights and options as a homeowner, and remember that financial difficulties, while daunting, can sometimes lead to surprising and positive outcomes.

When it comes to protecting your family’s financial future, especially in the context of mortgage liabilities, several options are available. Life insurance, Mortgage Level Term Assurance (MLTA), and Mortgage Reducing Term Assurance (MRTA) are three common choices. Each offers unique benefits and considerations. In this guide, we’ll compare these options to help you make an informed decision based on your needs and circumstances.

Life Insurance:

Life insurance provides financial protection to your beneficiaries in the event of your death. It pays out a lump sum or regular income to your chosen beneficiaries, helping them cover living expenses, debts, and future financial needs. Here are some key features:

1. Flexibility: Life insurance offers flexibility in coverage amount, policy duration, and premium payments. You can customize your policy to suit your needs and budget, whether you want coverage for a specific term (term life insurance) or lifelong protection (whole life insurance).
2. Comprehensive Protection: In addition to mortgage repayment, life insurance can provide financial security for your family’s long-term needs, such as education expenses, daily living costs, and retirement income.
3. Investment Component: Some life insurance policies come with an investment component, allowing you to accumulate cash value over time. This can serve as a source of emergency funds or supplemental income during retirement.
4. Cost Considerations: The cost of life insurance premiums varies depending on factors such as your age, health, coverage amount, and policy type. While life insurance premiums may be higher than MLTA or MRTA initially, they provide broader coverage and long-term financial protection.

MLTA (Mortgage Level Term Assurance):

MLTA is a mortgage insurance product that offers level coverage throughout the policy term. It provides protection against mortgage liabilities while offering additional benefits such as critical illness coverage and investment opportunities. Here are some key features:

1. Fixed Coverage Amount: MLTA provides a fixed coverage amount that remains constant throughout the policy term. This ensures that your beneficiaries receive a predetermined sum in the event of your death or disability.
2. Premium Flexibility: MLTA offers flexibility in premium payments, allowing you to choose between single premium, regular premium, or hybrid payment options. You can tailor the premium payment schedule to suit your financial preferences and budget.
3. Comprehensive Protection: MLTA offers comprehensive protection by covering not only the outstanding mortgage balance but also additional benefits such as critical illness coverage and total and permanent disability coverage.
4. Investment Opportunities: Some MLTA policies come with an investment component, allowing you to accumulate cash value over time through investment-linked funds. This provides an opportunity for potential returns on investment while simultaneously providing protection against mortgage liabilities.

MRTA (Mortgage Reducing Term Assurance):

MRTA is a mortgage insurance product designed to cover the outstanding loan balance in the event of your death or permanent disability. The coverage amount decreases over time as the mortgage is gradually repaid. Here are some key features:

1. Decreasing Coverage: MRTA provides decreasing coverage over the policy term, reflecting the declining outstanding loan balance. This ensures that the outstanding mortgage balance is fully covered at any given time.
2. Single Premium: MRTA typically involves a one-time premium payment, which is calculated based on factors such as the loan amount, loan tenure, and borrower’s age. The premium is usually included in the total loan amount and financed by the borrower through the mortgage.
3. Creditor Protection: MRTA primarily protects the lender (creditor) by ensuring that the outstanding loan balance is settled in the event of your death or disability. While your family indirectly benefits from having the mortgage debt cleared, they do not receive any additional financial compensation beyond the loan settlement.
4. Limited Flexibility: MRTA offers limited flexibility in coverage customization or investment options. Borrowers have little control over the policy, and the coverage is typically tied to the specific mortgage loan.

Comparing Life Insurance, MLTA, and MRTA:

1. Coverage Flexibility: Life insurance and MLTA offer greater flexibility in coverage customization and premium payment options compared to MRTA. Borrowers can tailor their coverage amount and premium payment schedule according to their individual needs and financial circumstances.
2. Comprehensive Protection: Life insurance and MLTA provide more comprehensive protection by offering benefits beyond mortgage loan settlement, such as critical illness coverage and total and permanent disability coverage. MRTA primarily focuses on settling the outstanding loan balance.
3. Investment Opportunities: MLTA and some life insurance policies come with an investment component, allowing policyholders to accumulate cash value over time through investment-linked funds. MRTA does not offer investment opportunities and solely serves to settle the outstanding loan balance.
4. Cost Considerations: While life insurance and MLTA may offer more comprehensive coverage and flexibility, they often come with higher premiums compared to MRTA. Borrowers should carefully evaluate the cost-benefit ratio and consider their budgetary constraints when choosing between these options.

Conclusion:

Choosing the right mortgage protection option depends on your individual needs, preferences, and financial circumstances. Life insurance provides broad financial protection beyond mortgage liabilities, while MLTA offers comprehensive coverage with investment opportunities. MRTA, on the other hand, primarily focuses on settling the outstanding loan balance. Consider consulting with a qualified financial advisor to assess your options and make an informed decision based on your specific requirements. Ultimately, selecting the most suitable mortgage protection option ensures that you and your loved ones are adequately protected against unforeseen circumstances while repaying your mortgage loan.

I personally recommend MRTA or MLTA options for a simple reason, it is usually finance into your loan! You won’t be able to miss payment like a life insurance policy (even if you miss your mortgage monthly payment, your loved ones are still financially protected).

Housing Credit Guarantee Scheme (SJKP)
• SJKP guarantees to enable buyers with non-fixed, variable incomes to obtain a mortgage.
• SJKP’s guarantee is up to 100% of the purchase price, subject to a maximum financing of RM 400,000.00 (inclusive of MRTA / MRTT)
Target groups :
groups with irregular incomes, such as small traders, farmers, taxi drivers, fishermen, e-hailing drivers (Grab Driver), and others.
– Fixed income from the SME sector such as factory workers, mechanics and others.

Application conditions and criteria:
• Malaysian citizens aged 18 years and above
• There are or auction houses that fall under the low-cost category, are modestly priced, or are affordable to live in for the first-time purchase of a new residential house or ready-made house. (RUMAWIP is definitely included)
• Open to new residential homes or existing homes
or auction house.
• Total repayment of all applicant loans no
more than 65% of gross monthly income.
• There is no outstanding record of CCRIS exceeding 2 months for a period of 12
latest month.
• No other negative credit records within 24 months.
Product marketing mechanism:
• Through branches of financial institutions that
participate in the SJKP scheme and also the SJKP website.

Participating Banks stated in SKJP

• RHB
• Bank Islam
• Bank Muamalat
• Bank Rakyat
• BSN
• Agro Bank
• HLB

One thing to observe is that there is little to no effort to promote the SJKP loan as there is no info publish for SKJP loan for all the website above, except a similar offering from BSN, BSN MyHome (Program Perumahan Rakyat). Here we can tell banks are reluctant to push on with this program.

Second, in the preceding RUMAWIP project’s bank panels, RHB, Bank Islam, and Bank Muamalat were the only ones engaged. Furthermore, based on RUMAWIP.COM.MY agent historical experiences, only RHB will be ready to receive applications for RUMAWIP projects at the start of the launch, whereas Bank Islam and Bank Muamalat would normally be a bit late.

For the time being, we should temper our expectations in the SKJP programme and wait to see what occurs when the RUMAWIP programme kick start in 2024!

Are you a RUMAWIP buyer looking to save money on your mortgage? Most buyers opt for 100% financing, known as SKJP, with Maybank and RHB leading the way. In this guide, we’ll show you how making larger monthly payments can help you save money over the life of your loan. We’ll use an RHB mortgage package with a 4.55% interest rate and a 35-year tenure as an example.

First google for a amortization calculator or simply click THIS

Step 1: Key in loan amount RM 300,000

Step 2: Key in the interest rates 4.55%

Step 3: Key in the tenure 35 years is you are age 35 and below (if you are above 35, use this formula 70 – your age = max tenure)

Step 4: Key in the extra amount of monthly payment you can afford to pay.

After entering your information, the calculator will show you how much you can save by making extra payments. For instance, paying an additional RM 257.15 monthly can result in significant savings over the loan’s duration. Interest rates can fluctuate, so for more precise calculations, repeat these steps if aiming for higher savings, such as RM 150,000 in interest savings.

Now as we use RHB as a model here, please take note that RHB Conventional is Full Flexi (A flexi loan allows borrowers to not only make advance payments to reduce their mortgage interest, but also to withdraw the extra payments whenever they need them) & RHB Islamic is Semi Flexi ( allow to make advance payment to save on profit rate but unable to withdraw the extra payments).

As for Maybank it is a Term Loan but slightly Flexi. You can make advance payment to save on interest but you have to inform the bank via phone call to branch or walk in after the payment is made. MBSB offers SKJP financing; advance payment to principal requires you to notify bank 1 month in advance.

“The Official Way:

Just click on this link, JWP, to be directed to the official government website. From there, you can select the available projects and apply accordingly. After applying, you’ll need to wait for approval. Once the project is approved, the developer will contact you for viewing, and if you wish to proceed, you can apply for a loan. Alternatively, you can visit the gallery to view the project and apply for a loan concurrently with the application for government approval. The developer’s contact number is always provided on the website. All of this occurs after developer successfully obtain the APDL (Advertising Permit and Developer’s License).

The Kiasu Way:

Please note that the 110% home financing program, My First Home Scheme, which was backed by CAGAMAS, has been replaced with the SKJP loan. Currently, only Maybank and RHB actively provide this package in most RUMAWIP (Residensi Wilayah) projects. It’s important to understand that banks usually finance 25-30% of the project initially, with an increase occurring when the quota is met. This increase typically takes an average of 2 weeks from the time the bank manager submits the application after the quota is full.

If there are only two banks providing the SKJP package for RUMAWIP projects, we can conclude that as the sales of a specific RUMAWIP project reach 50-60% of the total units, the process may slow down. This is because more than 90% of RUMAWIP buyers opt for full financing, which means that buyers can’t be selective about loan packages. As a result, those who can afford the 10% down payment will be able to secure units easily. As for examples, these two RUMAWIP projects Dutamas Dahlia was fully taken in 2 days, and Alamanda (located close to Bangsar) was fully taken in less than 7 days, just to name a few examples.

So, what do we, as experience RUMAWIP agents do in this situation? We help you in

• providing you the insider news before APDL is released to give you the first mover advantage
• loan pre-approved (there is limited quota for FULL FINANCING)
• prepare your documentation
• lock your prefer units with the developer
• brief you on what to look out for when buying a BARE UNIT condominium such as a RUMAWIP

We earn by successfully getting you your desired units therefore, we will always do our best to assist with the purchasing process.

Please subscribe to our Telegram Channel for RUMAWIP insider news and gain a first-mover advantage.”

Elijah is an esteemed real estate agent who has dedicated his expertise to the RUMAWIP program since 2018. With a reputation for unwavering honesty, he navigates the real estate landscape with straightforwardness and analytical insight. Alongside his role as a real estate agent, Elijah shines as a marketing consultant collaborating closely with RUMAWIP developers. His dual perspective and commitment to affordability make him a trusted figure in the industry, consistently guiding clients and stakeholders toward informed decisions and successful outcomes.

• Proximity to Highways: Strategically situated near major highways such as the KL Seremban Highway, Sungai Besi Highway, Salak South Highway and MEX Highway, residents enjoy seamless commuting and easy connectivity to their desired locations. (Save Time)
• Hassle-free Parking: Residensi Desa Timur provides direct access to parking level, eliminating the frustration of circling around in going the upper level. This convenience saves residents valuable time and ensures a daily stress-free parking experience. (Save Time)
• Efficient Vertical Transportation: With 1218 units and 12 lifts, Residensi Desa Timur ensures a decent lift-to-unit ratio, minimizing waiting times and enhancing convenience for residents. (Save TIme)
• Embracing Minimalist Living: With its smaller unit sizes, Residensi Desa Timur encourages residents to adopt a minimalist lifestyle, promoting a clutter-free living environment and a more intentional way of living. (Save Money)
• Encouragement for Home Cooking: While eateries may not be within walking distance, this encourages residents to explore their culinary skills and enjoy the benefits of home-cooked meals. This is especially beneficial considering the rising prevalence of diabetes in Malaysia, where a low-carb, home-cooked meal is a healthier choice. (Save Money)
• Curbing Excessive Online Shopping: By embracing minimalism, residents are encouraged to control excessive online shopping, fostering a sustainable and mindful approach to consumption. (Save Money)
• Essential Facilities: Residents have access to basic facilities, including a rejuvenating swimming pool and a well-equipped gymnasium, providing opportunities for relaxation, fitness, and well-being. (Save Money & Time)
• Enhanced Safety and Comfort: The absence of a mid water tank ensures middle-floor residents are safeguarded from potential water leakages and sound pollution, creating a secure and serene living environment.
• Adapting to Changing Economic Landscape: Residensi Desa Timur, being a RUMAWIP development, is an ideal choice for Malaysians facing challenges such as inflation and job mobility. Its affordable pricing ONLY RM 300,000 and emphasis on minimalist living enable residents to save money and adapt to a more streamlined lifestyle.

Residensi Desa Timur the latest RUMAWIP located Sungai Besi MAY NOT BE YOUR DREAM HOME but it is definitely an exceptional RUMAWIP development that offers residents the perfect blend of convenience, comfort, and minimalist living. With its strategic location, easy highway access, and thoughtful amenities, this residential gem provides an excellent opportunity for individuals and families to embrace a simpler lifestyle while enjoying the benefits of convenient urban living.

The common mistake of first time home buyer is they choose to buy their first house close to their workplace; the problem is most of these people change their jobs before moving in. Residensi Desa Timur is located in between Selangor & Wilayah Persekutuan (1st RUMAWIP in Sg Besi); even during peak hours one can reach anywhere in PJ or KL WITHIN 1 HOUR! Residensi Desa Timur is for Malaysian who sees the coming challenges as the middle class, bracing for impact for the coming recession. A location that enable you to be versatile, ever ready to accept an offer letter which offers you 15% increment without much thought of the journey to work, sufficient lifts, a direct access to level for you to speed off the work, highways to practically anywhere where the jobs are located, encourage to cook because you don’t have the convenience to eat out within walking distance and there is facilities like the gym and pool for you to exercise too!

The downside is

1. Aesthetic of the building average.
2. Flipping for profit from capital appreciation may not be ideal as there is plenty of land around this project.
3. Lack of public transportation (Salak South LRT Station 12 minutes walk)

Please WhatsApp us if you wish to visit the gallery.

Elijah is an esteemed real estate agent who has dedicated his expertise to the RUMAWIP program since 2018. With a reputation for unwavering honesty, he navigates the real estate landscape with straightforwardness and analytical insight. Alongside his role as a real estate agent, Elijah shines as a marketing consultant collaborating closely with RUMAWIP developers. His dual perspective and commitment to affordability make him a trusted figure in the industry, consistently guiding clients and stakeholders toward informed decisions and successful outcomes.

Introduction:

In Malaysia, providing affordable housing for its citizens has always been a priority for the government. Recognizing the need for affordable homes, the Malaysian government introduced the Rumah Mampu Milik Wilayah Persekutuan (RUMAWIP) program. RUMAWIP aims to address the housing needs of low- to middle-income earners in the Federal Territories, making homeownership more accessible and affordable. In this article, we will delve into what RUMAWIP is, its eligibility criteria, and its benefits for aspiring homeowners.

What is RUMAWIP?

RUMAWIP is a government-led initiative under Jabatan Wilayah Persekutuan (JWP). It offers affordable housing options to eligible Malaysians within the Federal Territories of Kuala Lumpur, Labuan, and Putrajaya. The program strives to bridge the gap between the rising property prices and the affordability constraints faced by many Malaysians, particularly those in the middle-income bracket.

Eligibility Criteria:

To be eligible for RUMAWIP, individuals must meet specific criteria set by the program. These criteria may vary slightly depending on the respective state guidelines. Typically, the following requirements are applicable:

1. Malaysian Citizenship: Applicants must be Malaysian citizens, ensuring the program is exclusively for locals.
2. Age and Income: There are certain age and income restrictions to ensure the program targets low- to middle-income earners. Typically, applicants should be at least 18 years old and earn a gross income of RM 10,000 or RM 15,000 for joint salary between husband and wife.
3. Residential Status: Applicants should not own any other property within the Federal Territories where the RUMAWIP project is located. This condition ensures that the program caters to first-time homebuyers.
4. Priority to Residents: Priority is often given to residents living or working within the Federal Territories, further promoting accessibility for those already connected to the area.

Benefits of RUMAWIP:

1. Affordable Housing: RUMAWIP offers homes at lower-than-market prices, enabling low- to middle-income Malaysians to own their own properties. This program aims to reduce the financial burden and make homeownership a reality for many who may otherwise struggle to enter the property market.
2. Strategic Locations: RUMAWIP projects are strategically located within the Federal Territories, providing residents with convenient access to amenities, transportation networks, educational institutions, and employment opportunities.
3. Quality Construction and Amenities: RUMAWIP developments maintain high construction standards and provide various amenities for the residents’ comfort and convenience. These amenities may include communal spaces, recreational facilities, security systems, and green areas.
4. Long-Term Value: RUMAWIP properties are designed to appreciate in value over time. This aspect ensures that homeowners can secure a valuable asset and potentially build equity for their future.
5. Priority for Upgrading: Upon meeting certain requirements and after residing in a RUMAWIP unit for a specified period, homeowners may be eligible to upgrade to other property types under government schemes or in the open market, allowing for greater flexibility and potential growth in property ownership.
6. Minumum of 800 sqft consist of 3 Room & 2 Bathroom.

Lies About RUMAWIP

1. Lower quality (it’s true if you compare with property above 1 Million) The truth is all property have defects.
2. Located in traffic congested area! (It’s jam everywhere)
3. Parking Space Insufficient (property that cost RM 400k ++ will provide you 1 parking space too)
4. Agent bashing RUMAWIP as NOT a Good Choice (their commission is 2X to 3X more if they sell you a more expensive property)
5. Demographic of people as neighbours not desirable ( it will be the same people who purchase houses that cost RM 400,000 – RM 500,000)

Conclusion:

The RUMAWIP program plays a vital role in addressing the housing needs of low- to middle-income Malaysians within the Federal Territories. By providing affordable housing options, it offers an opportunity for aspiring homeowners to enter the property market, improve their quality of life, and build a secure future. With strategic locations, quality construction, and various benefits, RUMAWIP serves as a crucial avenue for achieving homeownership dreams while contributing to the overall well-being and socioeconomic development of Malaysia. Now it is rebranded to Residensi Wilayah.

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