The government's plan of building one million homes over a 10-year period move would only address the issue of supply shortage.

Malaysian Institute of Professional Real Estate Agents and Consultants Deputy President See Kok Loong believes those in the B40 and M40 groups are unable to acquire their own homes because of low real residual income, reported Free Malaysia Today.

He cited a Khazanah Research Institute study which showed that real residual income of those earning a monthly household income of RM2,000 and below was only RM76.

"How can you pay instalments with RM76 per month? No bank would want to give you a loan," said See.

With this, he called on the government to allow EPF members to draw from their monthly contributions for their property's monthly installment payments.

This would help those in the B40 and M40 group have higher real residual income without having to worry of monthly rental payments, said See.

"The B40 median household income is RM3,000 per month, so their monthly contribution to EPF is RM720. With the RM720 at an interest rate of 4.4 percent and a tenure of 25 years, the member is eligible for an RM135,000 loan," explained See.

"For the M40, the median income is RM6,275 per month. Their contribution is RM1,443 per month and with an interest rate of 4.4 percent and tenure of 25 years, they will be eligible for a loan of RM270,000."

The proposed scheme, however, would only work for younger members as they still have longer time to service the loan prior to their retirement, he added.