SHAH ALAM – Budget 2027 should go beyond short-term assistance and address the growing gap between housing prices, young people’s purchasing power and access to financing, particularly for Bumiputera first-time buyers, says PKR deputy secretary-general Saifuddin Shafi Muhammad.
He said the issue was becoming increasingly urgent as younger Malaysians entered the workforce with stable incomes but continued to face difficulties accumulating deposits and securing housing loans amid rising living costs and tighter lending requirements.
“Malaysia has more than 21.8 million Bumiputera, with almost 3.7 million Bumiputera graduates in the labour market. Yet, homeownership remains a major challenge even for those who have permanent employment and relatively stable incomes,” he said in a statement.
Saifuddin said the mismatch between housing supply and affordability was particularly concerning, pointing out that the average house price in Malaysia was now approaching RM500,000 while many first-time buyers were young workers still at the early stages of their careers and family lives.
The situation, he said, was reflected in the country’s sizeable overhang of completed residential units. More than 33,000 completed housing units worth almost RM18 billion reportedly remained unsold in the first half of 2026.
“This tells us that the problem is not simply a lack of houses. There is a clear gap between what is being offered in the housing market and what ordinary Malaysians can actually afford, as well as their ability to obtain financing,” he said.
Saifuddin said Budget 2027 should therefore consider shifting part of its housing strategy from simply increasing supply or providing assistance towards enabling sustainable ownership, particularly among younger first-time buyers.
Among the measures he proposed was expanding zero-deposit schemes for Bumiputera first-time buyers with consistent employment records and EPF contributions, allowing them to overcome one of the biggest initial barriers to homeownership.
He also called for a broader government-backed housing guarantee mechanism to help younger workers secure financing without facing disproportionately difficult requirements at the beginning of their careers.
At the same time, Saifuddin said Bank Negara Malaysia, financial institutions and the Credit Counselling and Debt Management Agency (AKPK) should reassess how housing loan eligibility is evaluated for graduates and younger workers.
“Risk assessment must remain prudent, but it should not become so restrictive that it effectively shuts young people out of their first opportunity to build an asset during their most productive working years,” he said.
He said the success of the Bumiputera agenda should not be measured solely by the amount of allocations, programmes or seminars announced each year, but also by tangible outcomes such as how many young Bumiputera are able to own their first home before reaching the age of 35.
For Saifuddin, homeownership represents more than having a roof over one’s head. It provides families with an asset, greater financial security and an opportunity to build wealth that can be passed from one generation to the next.
He also urged the government to ensure that affordable housing schemes, Bumiputera Reserved Units, Rumah Selangorku, the People’s Housing Programme (PPR) and other public housing initiatives create genuine pathways towards long-term ownership rather than functioning merely as temporary solutions.
“The strategic housing assets we have today must be protected so that their benefits can continue to reach future generations of Bumiputera,” he said.
Saifuddin said Budget 2027 could represent a broader policy shift from an assistance-based approach towards an asset-ownership agenda, particularly as younger Malaysians increasingly find themselves caught between high housing prices, living costs and limited borrowing capacity.
“The younger generation of Bumiputera does not want to become a generation of tenants. They want the government to create real opportunities for them to become a generation of homeowners,” he said. -MalayaDailyToday
