Source: EdgeProp.my

The rent-to-own (RTO) housing scheme as announced under Budget 2021 involving PR1MA homes nationwide is expected to be launched this June.

Housing and Local Government Minister (KPKT) Datuk Zuraida Kamaruddin said the ministry is in the midst of discussions and refining on the housing scheme mechanism with banking institutions.

“The RTO has yet to be implemented because we are waiting (for results of discussions) on the mechanism to be adopted.

Once the scheme is finalized, we will offer the PR1MA houses that have been approved and we are trying to do this by June,” she said after a Malaysia Prihatin Programme with the KPKT Minister here today.

Last November, Finance Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz in tabling the 2021 Budget said, the government will be collaborating with select financial institutions to provide an RTO scheme, which will be effective until 2022, involving 5,000 PR1MA homes nationwide with a total value of over RM1 billion, especially for first-time home buyers.

Source: Bernama