JOHOR BARU: The Johor government hopes to help more people own homes and address the slow property market by introducing a rent-to-own scheme that covers properties costing RM300,000 and above.
Johor housing and local government committee chairman Ayub Jamil said talks were ongoing with two banks and the state hoped to finalise the scheme by this year, at the earliest.
He said the state’s rent-to-own scheme was called Johor Affordable Housing Scheme (RMBJ) and they aimed to expand it to more expensive units as there were many that were unsold.
Typically, a buyer would need to have about RM30,000 before purchasing an RM250,000 house, and this amount might be difficult for some people to raise, he said.
“With this scheme, they only need to prepare RM6,000 and they can collect their house keys.
“Homeowners with good payment records will be able to own the house after a few years,” said Ayub after the RMBJ open draw ceremony for units in Taman Lagenda Labis here.
He added that the state government understood that the people, especially the younger generation who had just started working and have family, find it difficult to obtain bank approval for housing loans.
“At the same time, it is part of our proactive efforts to address the slow take up rate for housing units in Johor as a result of buyers not meeting stringent bank requirements,” he added.
During the ceremony, ballots for a total of 46 housing units under the RMBJ were drawn and handed over to the homeowners. – By YEE XIANG YUN