The P.E.I. government has announced details of a new program that it hopes will make it easier for Islanders to purchase their own homes.
The rent-to-own program was first announced in the provincial budget in May, when $1 million was set aside for it.
According to a news release Thursday, Finance P.E.I. will purchase eligible homes for Islanders and rent them back.
“A tight housing market and increases in construction cost have made housing prices out of reach for many Islanders,” Housing Minister Rob Lantz said in the release.
