Penang Housing Committee chairman Jagdeep Singh Deo says the state plans to offer more rent-to-own schemes. Housing Committee chairman Jagdeep Singh Deo said the two schemes at Taman Seruling Emas and Sungai Duri Permai in Jawi were snapped up fast.
The 2,000 available units were contributed by developers to the state government from affordable units sold on the open market. This enables developers to sell these units, which are usually reserved for first time home buyers with a certain income, on the open market with fewer restrictions. He also said that Penang has built a total of 30,000 units of affordable housing since 2008. About 25,000 more are being built and another 55,000 have been approved.
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