Ministry pushes Madani Deposit initiative in Budget 2025 to aid first-time homebuyers

Budget 2025 News

Ministry pushes Madani Deposit initiative in Budget 2025 to aid first-time homebuyers
Nga Kor MingMadani Deposit2025 Budget
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Beloved giant pandas Ri Ri and Shin Shin left Tokyo's Ueno Zoo in the early hours of Sunday to fly back to their home country China due to age-related health concerns.

IPOH: The Housing and Local Government Ministry hopes the Madani Deposit initiative will be tabled in the coming Budget 2025 , says Nga Kor Ming .

The Minister said the focus was to help young adults who had just graduated and started working to own their first home.“The young working adults especially face issues securing bank loans due to lack of supportive documentation. “The Madani Deposit proposal will help first-time home buyers aged between 21 and 40 to pay a deposit with a maximum value of RM30,000 for a property not exceeding RM500,000,” he said after opening the Perak DAP Socialist Youth convention at a hotel here on Sunday .“If this proposal goes through, I am sure the number of Malaysians owning a home will increase as well,” he added.“Their deposit will be released only to the housing developer’s accounts.

“If this proposal comes through, the initiative can start from next year, for a period of three years,” he added.Report abuse and seek help in emergencies instead of recording it for clout, says KK MP

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