KPKT Minister Announces Plans for RTO Scheme Under Budget 2021
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By June 2021, Malaysia can expect to see the Rent-To-Own Scheme launched under the Budget 2021, involving PR1MA houses across the nation.
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 finalised, 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.
Last November, Finance Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz in tabling the 2021 Budget said, the governmentwill be collaborating with select financial institutions to provide an RTO scheme, which will be effective until 2022, involving 5,000 PR1MA homes nationwidewith a total value of over RM1 billion, specially for first-time home buyers.
Information in this article has been extracted from an article by The Sun Daily.