Yayasan My First Home (YMFH) is a charitable foundation established as a public company limited by guarantee incorporated under the Companies Act 2016 on 23 December 2021. The Foundation will serve as a singular touch point and facilitator to bring together all the various stakeholders, including developers, financiers, donors, NGOs, the relevant Federal and State agencies and other interested parties in a combined and holistic effort to meet our primary goal of promoting and facilitating the development of affordable housing and home ownership by the B40 group.

The Housing Continuum describes a range of housing in a community and includes shelters, supportive housing, rental and private home ownership. The fundamental concept is that a country’s housing system should provide shelter for all, while facilitating people to move up the socio-economic ladder towards home ownership.

The greatest need is at the lower end of the continuum. However, this will require large funding which only the public sector can meet. Yayasan My First Home, in its initial stage will focus on the increasing ownership of affordable housing by the lower income groups – moving them up from ‘renters’ to home owners.

There are no simple solutions to housing affordability. The longer this issue is allowed to go on without resolution, the deeper the economic, social and human cost to the community. Any effort at reform must significantly expand on investments and commitments that facilitates affordability of home ownership.

We need to move away from the assumption that renting is a better solution for the low-income group. There is always a need for the rental segment but facilitating home ownership through innovative solutions and pathways, for the low-income group is a potential tool that can facilitate upward mobility.