Prime Minister Tun Dr Mahathir Mohamad launches the FundMyHome project in Semenyih November 4, 2018. — Picture by Azinuddin Ghazali

SEMENYIH, Nov 4 — The Employees Provident Fund (EPF) is free to invest in EdgeProp Sdn Bhd’s FundMyHome scheme, said Prime Minister Tun Dr Mahathir Mohamad at the launch today.

“I think EPF also can invest. If they feel they can get a good return, and investment in properties normally gives a good return.

“As I said just now, property value goes up. Even if the house is older, the value of the property goes up,” he added.

The FundMyHome scheme matches first-time house buyers with financial institutions. All aspiring buyers have to do is pay 20 per cent of the price of the home while interested investors pay the rest in exchange for the potential appreciation in value of the property over a period of time.

In this way, potential house buyers are not saddled with monthly mortgages over many years.

Earlier, the prime minister said the scheme’s success will also help Pakatan Harapan fulfil its promise to construct one million affordable homes in 10 years.