SHAH ALAM: The Selangor government has made a concerted effort to help its people to own a house, said Selangor Housing and Property Board (LPHS) executive director Norzaton Aini Mohd Kassim.
The initiatives include Dana-Sel, Smart Selangor Home and Smart Rent programmes.
Dana-Sel, a rent-to-own measure for 25 years, is currently only available for squatters in the first phase of the implementation, but it will open to the public around June this year.
“The buyer will get a chance to buy the low-cost unit at a price when it was first rented out. Let’s say after the tenth year when they already have the fund, then we allow them to buy with certain deduction from the rent,” Norzaton told SunBiz in a recent interview here.
Another initiative is Smart Selangor Home, which see the Selangor government helping the people to pay deposit for the purchase of houses.
“They want to buy a house, but they don’t have enough money, so we pay the deposit for them. We don’t charge them the interest during the construction period. But after they get the key, they need to pay us a 2% service charge on top of the deposit,” she noted.
For Smart Rent programme which started last year, Norzaton said it is for the people to rent for up to five years and the units are not available for sale.
Selangor Govt’s Initiatives To Boost Home Ownership Share on X“The young generation is more mobilised, they might not want to own a house, so we get this idea and rent it to them. After they finish the contract with us, if they don’t want to extend their contract, we’ll return them a certain percentage of that money, so that the money will become a deposit for them to buy a house,” she explained.
Nonetheless, she said it is still a small-scale programme as it only involves 40 units at the moment. “We rent out units that we bought, last year we bought 40 units and this year we intend to buy another 40 units,” she added.
–THE SUN DAILY
