Rent to Own has Made its Way to Johor

October 12, 2017

 
Johoreans can look forward to renting new homes which they could eventually purchase, with the upcoming launch of a “Rent To Own” scheme in the state.

Mentri Besar Datuk Seri Khaled Nordin is set to launch the scheme on Friday (13 October) at Ekspo Johor Berkemajuan which is being held at Dataran Mahkota in Kota Iskandar until 14 October, said state housing and local government committee chairman Datuk Md Jais Sarday.

“This is good news for those who want to own property in prime areas where prices have increased, such as in Johor Baru,” he said after giving out offer letters to MyHome programme’s 36 recipients.

“The state government is always listening to the people on many issues and this is one that we are addressing.”

Md Jais explained that the state government would acquire the properties in prime development areas.

“The monthly rent is between RM260 and RM600 and tenants will lease the property for five years before buying them from the state,” he said.

“The rental will be deposited as savings and the tenant can use it as a deposit for the house, and will find it easy getting a housing loan from a bank.”

He also revealed that the Johor Affordable Houses (RMMJ) programme saw over 130,000 Johoreans registering for the scheme online.

Notably, 15,139 housing units were completed as of last month under the programme and the state government eyes to complete another 30,000 units by next year.

 

This article was edited by the editorial team of PropertyGuru. To contact them about this or other stories email editorialteam@propertyguru.com.my

 

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