FundMyHome's property crowdfunding, will it helps?
--> In the announcement of Malaysia Budget 2019, it introduces property crowdfunding for the Malaysian who has difficulties to own a home. It is P2P and in short, buyer can own a home with the help of public funding. There are not many details about how it actually works, or how soon it will be implemented upon announcement. Anyway, I feel it is a very innovative idea and I am extremely excited about it because it overcome some barrier of owning a home, especially for those of you who have been rejected by the bank. Few days later, I came across FundMyHome and introducing a whole new way to own a home with no monthly repayments. Buyer needs to fork out 20% of the purchase price and the remaining 80% will be funded by institutions. After 5 years, you are forced to sell because the institutions who have been financing your home must get back their return as promised by FundMyHome scheme deal. On the other hand, if you insisted not to sell, then you can ch...