A pilot housing scheme for 1,840 Johor Baru (JB) homes received 265,000 applications. The project, offered buyers a chance to own their own home at a fraction of the market price. Launch by the Johor Sultan, a total of 1,840 landed properties and apartments were up for grabs under the Bangsa Johor/Sultan Ibrahim Dream Home project. However, buyers must fulfil certain conditions such as Johor being their place of birth. They must form a family unit with children and have a household income of less than RM4,000 a month. They, and their parents, must not currently own a house.
840 homes will be built at Bandar Dato' Onn and Bandar Baru Majidee suburbs. 1,000 more units will rise at Bukit Saujana, near Johor Baru city centre which will cost RM297,000 to RM429,000, reflecting the value of prime estate. Such homes can fetch up to RM1 million in the market. The most affordable homes will be at Bandar Dato' Onn, with a mix of landed homes at RM80,000, RM85,000 and RM95,000 for a terrace, semi-detached house and bungalow respectively.
The development will be undertaken by Johor Land, a unit of state investment arm Johor Corporation. There were talks of housing loans of up to 100% where eligible buyers need to pay only RM $1 as down payment.