THE rent-to-own (RTO) scheme for a property value of up to RM500,000 as announced in the 2020 Budget in October is expected to begin in the country by January next year.

State Local Government, Housing, Town and Country Planning Committee chairman Jagdeep Singh Deo said the information was based on his meeting with Finance Minister Lim Guan Eng’s special assistant Tony Pua recently.

“In the 2020 Budget, there is a RM10 billion fund that has been allocated by the Federal Government for first-time affordable housing up to RM500,000 under the RTO scheme.