Residensi Wilayah, also known as Rumah Wilayah Persekutuan (RUMAWIP), is a housing project initiative by the government that offers affordable housing that is easily accessible to the general public across the Federal Territories of Malaysia, to help Malaysians own their first home at an affordable price. This programme focuses on all Federal Territories – Kuala Lumpur, Putrajaya and Labuan.
For many first-house buyers, this is the perfect opportunity to own your first house at a great price point. Here are the top 9 things you should know about the Residensi Wilayah initiative.
1. How many residential units will be built under the Residensi Wilayah initiative?
An estimated 80,000 residential units are planned for construction in the Federal Territories within a 10-year period (2019 – 2028).
2. What are the residential types that are offered?
Residential Wilayah offers affordable homes with selling price capped at RM300,000 or below with the standard layout of 3 bedrooms + 2 bathrooms under strata title ownership.
3. Who is eligible to apply for Residensi Wilayah?
Eligibility is accessed under a priority status, with the following conditions:
- Malaysian citizen
- 21 years old and above
- Born, work and live in any of the Federal Territories (Wilayah Persekutuan)
- Single individuals: income of no more than RM10,000 per month
- Married couples: combined income of no more than RM15,000 per month
4. What is the income eligibility for Residensi Wilayah?
Do note that for married couples, the husband or wife may apply for Residensi Wilayah. Nonetheless, only one offer will be given to each household.
5. Can retirees apply for Residensi Wilayah?
Yes. Eligible retirees can apply under certain terms and conditions. Check out the Residensi Wilayah portal for the latest information and details.
6. How many projects can applicants apply?
Each applicant is only entitled for one application only.
7. Do I need to get my downpayment ready?
Although Residensi Wilayah is an affordable housing initiative, successful applicants are still required to pay to the developer a 10% downpayment of the total unit price.
8. Can I rent out my Residensi Wilayah unit?
Owners can rent out their units to a third party under certain terms and conditions. Check out the Residensi Wilayah portal for the latest information and details.
9. Can I sell off my Residensi Wilayah unit?
A 10-year moratorium is imposed, where the purchased unit cannot be transferred or sold to a new owner without the government’s permission, unless to the immediate family members or heirs like spouses or children only.
Check out the Residensi Wilayah portal for the latest projects, information and updates. If you are eligible for the initiative, start registering today as this is the perfect chance to own your first home at an affordable price!
This article is intended to convey general information only. It does not constitute advice for your specific needs. This article cannot disclose all of the risks and other factors necessary to evaluate a particular situation.
Any interested party should study each situation carefully. You should seek and obtain independent professional advice for your specific needs and situation.