Skim Rumah Pertamaku (SRP) - My First Home Scheme was first announced in the 2011 Budget by the Malaysian Government to assist young adults who have just joined the workforce to own their first home.
The Scheme allows young adults to obtain 100% financing from financial institutions, enabling them to own their 1st home without the need to pay a 10% downpayment. This is in line with the Government’s aspirations of increasing home ownership amongst the “rakyat”.
In 2013 Budget, it was announced that the gross income limit be increased from RM3,000 to RM5,000 per month and certain qualifying criteria will be abolished with immediate effect. The changes will be effective on 1st January 2013.