THE Penang government has identified at least another 3,000 units of affordable homes under its administration to be converted into the rent-to-own (RTO) housing scheme.
State Local Government, Housing, Town and Country Planning Committee chairman Jagdeep Singh Deo said currently there are about 3,600 housing units under the RTO scheme in Penang.
“The RTO housing scheme is part of the state government’s initiative to tackle the issue of high loan rejection rates for first-time home buyers, especially for affordable housing.
“So, with the additional RTO units, there will be close to 7,000 housing units under the RTO scheme in the state soon.
“Our goal is to have 22,000 RTO units by 2030. We are also looking forward to add even more units to the RTO scheme.
“This shows that the state government is committed to helping the lower income group buy their first home through the RTO scheme,” Jagdeep told a press conference in Komtar today.
Also present were Machang Bubuk assemblyman Lee Khai Loon, Bayan Lepas assemblyman Azrul Mahathir Aziz, Pengkalan Kota assemblyman Daniel Gooi Zi Sen and Komtar assemblyman Teh Lai Heng.
According to Jagdeep, the state government is taking the housing issue very seriously.
“This is important as we want to ensure that every family in Penang is capable to have their own house.
“Penang has so far provided 138,545 units of affordable homes (completed, being built and planned to be built) as we try to reach our main target which is to deliver 220,000 units by 2030,” he said.
Jagdeep added that the state Housing Board selection committee has held 69 meetings since 2013 to offer affordable homes to eligible recipients.
“From these meetings, we have offered affordable housing (various types) to the 74,990 eligible recipients in the state,” he said.
Story by Riadz Akmal
Pix by Law Suun Ting