COVID–19 NEWS   S Korea’s new COVID-19 cases bounce back to over 10,000 amid resurgence woes | Italy's COVID-19 transmission rate rises for 4th consecutive week | N Korea's first COVID-19 cases traced to area bordering S Korea: State media | COVID: Rise in new infections, drop in death cases last week - Health DG | South Korea’s COVID-19 vaccine candidate inches closer to launch after experts' approval Recommendation | 
REGION - CENTRAL

Extend rent-to-own scheme to Residensi Wilayah Keluarga Malaysia buyers

21/06/2022 08:20 PM

KUALA LUMPUR, June 21 (Bernama) -- The government has been urged to extend the rent-to-own financing scheme which currently only involves the 1Malaysia Housing Project (PR1MA) to prospective buyers of Residensi Wilayah Keluarga Malaysia.

National Housing Tenants Organisation (NHRA) chairman K. Prakash said the expansion of the scheme would help potential buyers who could not afford to rent their dream home in advance until they were able to obtain financing to buy a house that has been inhabited.

“NHRA hopes that the government can impose a restriction or moratorium on resale and rental for a period of at least 10 years so that buyers do not sell or rent out this house to any party.

"It is in line with the government's intention to help the B40 and M40 groups to own a Residensi Wilayah Keluarga Malaysia house by providing subsidy to reduce the sale price of the house," he said in a statement today.

According to Prakash, approval to own a Residensi Wilayah Keluarga Malaysia house should only be given to first-time home buyers and people with less ability to buy a house at market prices.

Apart from that, he said the local authorities also need to make regular enforcement to prevent houses under the People's Housing Programme (PPR) from being rented out to others, especially to foreigners.

"The results of NHRA's observation found that most PPR house owners who received government subsidy to own the house have taken the opportunity to rent to foreigners..

"Actually, the government created the PPR house concept to help the poor own a house and not to be commercialised or rented to others," he said.

He hoped that the issue could be addressed with the enforcement of clear conditions, rules and laws to prevent the rental and sale of PPR houses with the Residential Rental Act being enacted by the Ministry of Housing and Local Government.             

-- BERNAMA



 


Bernama is the trusted source of reliable real-time comprehensive and accurate news for both the public and media practitioners. Our news is published at www.bernama.com ; BERNAMA TV on: Astro Channel 502, unifi TV Channel 631, MYTV Channel 121 IFLIX; and Bernama Radio broadcasting locally on FM93.9 in Klang Valley, Johor (FM107.5), Kota Kinabalu (FM107.9) and Kuching (FM100.9).

Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial

© 2022 BERNAMA   • Disclaimer   • Privacy Policy   • Security Policy