The rent-to-own (RTO) housing scheme for PR1MA homes is expected to be launched this June, according to Housing and Local Government Minister (KPKT) Datuk Zuraida Kamaruddin.
She revealed that the ministry is still in the midst of refining and discussing the housing scheme mechanism with financial institutions, reported Bernama.
“The RTO has yet to be implemented because we are waiting (for results of discussions) on the mechanism to be adopted,” she said during the Malaysia Prihatin Programme held recently in Kuala Lumpur
“Once the scheme is finalised, we will offer the PR1MA houses that have been approved and we are trying to do this by June,” she added.
During the tabling of Budget 2021 in November 2020, Finance Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz announced that the government will collaborate with select banking institutions to provide an RTO scheme, particularly for first-time homebuyers.
To be effective until 2022, the scheme will involve 5,000 PR1MA housing units nationwide with a total value of more than RM1 billion.
The Malaysia Prihatin programme conducted in conjunction with the roadshow is part of the initiative of the government to raise awareness as well as knowledge in managing the pandemic.
Under the programme’s first series, KPKT via the National Landscape Department launched the ‘New Recreational Norms’ to highlight the significance of practising the new social norms.
A series of events was also implemented by the ministry at three locations within Ampang parliamentary constituency to convey the message to the community.
The roadshow will also be organised in stages throughout the state of Selangor.