KUALA LUMPUR: Private developers could be brought into rent-to-own arrangements to help clear completed but unsold homes and provide an alternative route to home ownership, says Deputy Housing and Local Government Minister Datuk Aiman Athirah Sabu.
She said the ministry is open to exploring strategic partnerships with property developers and financial institutions to extend the scheme to unsold units owned by private developers.
"We believe existing housing stock can be optimised while opening up opportunities for more target groups without creating financial commitments that could become burdensome," she said during Question Time in the Dewan Rakyat on Thursday (Nov 12).
However, she said any arrangement would depend on factors including property prices, location, market demand and commercial viability.
Mohd Hasnizan Harun (PN-Hulu Selangor) had asked if the ministry planned to expand rent-to-own schemes to include completed but unsold properties belonging to private developers.
Aiman Athirah said the initiative was in line with the National Housing Policy 2026-2035 and the 13th Malaysia Plan (13MP), which emphasised alternative home ownership models alongside existing financing assistance such as the Housing Credit Guarantee Scheme and step-up financing.
"The approach can provide a more flexible, gradual path to ownership for people who are not yet eligible for conventional housing loans," she said.
Aiman Athirah said Malaysia recorded 33,094 completed but unsold residential units worth RM17.8bil in the second quarter of the year, an 8.6% increase from 30,471 units last year.
She attributed the supply-demand mismatch partly to house prices being beyond the reach of some families, as well as unsuitable locations and property types.
Responding to Onn Abu Bakar (PH-Batu Pahat), she said the National Affordable Housing Council, chaired by the Prime Minister, served as a platform for the Federal Government, state governments, local authorities and industry players to coordinate policies and address the issue.
She added that an integrated housing data repository was being developed under 13MP to bring together information on housing supply, demand, affordability, prices and unsold units to support planning.
