diff --git a/backends/hostmem-file.c b/backends/hostmem-file.c
index b683da9daf..9d550e53d4 100644
--- a/backends/hostmem-file.c
+++ b/backends/hostmem-file.c
@@ -40,6 +40,7 @@ file_backend_memory_alloc(HostMemoryBackend *backend, Error **errp)
                object_get_typename(OBJECT(backend)));
 #else
     HostMemoryBackendFile *fb = MEMORY_BACKEND_FILE(backend);
+    uint32_t ram_flags;
     gchar *name;
 
     if (!backend->size) {
@@ -52,11 +53,11 @@ file_backend_memory_alloc(HostMemoryBackend *backend, Error **errp)
     }
 
     name = host_memory_backend_get_name(backend);
-    memory_region_init_ram_from_file(&backend->mr, OBJECT(backend),
-                                     name,
-                                     backend->size, fb->align,
-                                     (backend->share ? RAM_SHARED : 0) |
-                                     (fb->is_pmem ? RAM_PMEM : 0),
+    ram_flags = backend->share ? RAM_SHARED : 0;
+    ram_flags |= backend->reserve ? 0 : RAM_NORESERVE;
+    ram_flags |= fb->is_pmem ? RAM_PMEM : 0;
+    memory_region_init_ram_from_file(&backend->mr, OBJECT(backend), name,
+                                     backend->size, fb->align, ram_flags,
                                      fb->mem_path, fb->readonly, errp);
     g_free(name);
 #endif
diff --git a/backends/hostmem-memfd.c b/backends/hostmem-memfd.c
index 93b5d1a4cf..f3436b623d 100644
--- a/backends/hostmem-memfd.c
+++ b/backends/hostmem-memfd.c
@@ -55,6 +55,7 @@ memfd_backend_memory_alloc(HostMemoryBackend *backend, Error **errp)
 
     name = host_memory_backend_get_name(backend);
     ram_flags = backend->share ? RAM_SHARED : 0;
+    ram_flags |= backend->reserve ? 0 : RAM_NORESERVE;
     memory_region_init_ram_from_fd(&backend->mr, OBJECT(backend), name,
                                    backend->size, ram_flags, fd, 0, errp);
     g_free(name);
diff --git a/backends/hostmem-ram.c b/backends/hostmem-ram.c
index 741e701062..b8e55cdbd0 100644
--- a/backends/hostmem-ram.c
+++ b/backends/hostmem-ram.c
@@ -29,6 +29,7 @@ ram_backend_memory_alloc(HostMemoryBackend *backend, Error **errp)
 
     name = host_memory_backend_get_name(backend);
     ram_flags = backend->share ? RAM_SHARED : 0;
+    ram_flags |= backend->reserve ? 0 : RAM_NORESERVE;
     memory_region_init_ram_flags_nomigrate(&backend->mr, OBJECT(backend), name,
                                            backend->size, ram_flags, errp);
     g_free(name);
diff --git a/backends/hostmem.c b/backends/hostmem.c
index c6c1ff5b99..4e80162915 100644
--- a/backends/hostmem.c
+++ b/backends/hostmem.c
@@ -217,6 +217,11 @@ static void host_memory_backend_set_prealloc(Object *obj, bool value,
     Error *local_err = NULL;
     HostMemoryBackend *backend = MEMORY_BACKEND(obj);
 
+    if (!backend->reserve && value) {
+        error_setg(errp, "'prealloc=on' and 'reserve=off' are incompatible");
+        return;
+    }
+
     if (!host_memory_backend_mr_inited(backend)) {
         backend->prealloc = value;
         return;
@@ -268,6 +273,7 @@ static void host_memory_backend_init(Object *obj)
     /* TODO: convert access to globals to compat properties */
     backend->merge = machine_mem_merge(machine);
     backend->dump = machine_dump_guest_core(machine);
+    backend->reserve = true;
     backend->prealloc_threads = 1;
 }
 
@@ -426,6 +432,28 @@ static void host_memory_backend_set_share(Object *o, bool value, Error **errp)
     backend->share = value;
 }
 
+static bool host_memory_backend_get_reserve(Object *o, Error **errp)
+{
+    HostMemoryBackend *backend = MEMORY_BACKEND(o);
+
+    return backend->reserve;
+}
+
+static void host_memory_backend_set_reserve(Object *o, bool value, Error **errp)
+{
+    HostMemoryBackend *backend = MEMORY_BACKEND(o);
+
+    if (host_memory_backend_mr_inited(backend)) {
+        error_setg(errp, "cannot change property value");
+        return;
+    }
+    if (backend->prealloc && !value) {
+        error_setg(errp, "'prealloc=on' and 'reserve=off' are incompatible");
+        return;
+    }
+    backend->reserve = value;
+}
+
 static bool
 host_memory_backend_get_use_canonical_path(Object *obj, Error **errp)
 {
@@ -494,6 +522,11 @@ host_memory_backend_class_init(ObjectClass *oc, void *data)
         host_memory_backend_get_share, host_memory_backend_set_share);
     object_class_property_set_description(oc, "share",
         "Mark the memory as private to QEMU or shared");
+    object_class_property_add_bool(oc, "reserve",
+        host_memory_backend_get_reserve, host_memory_backend_set_reserve);
+    object_class_property_set_description(oc, "reserve",
+        "Reserve swap space (or huge pages under Linux) for the whole memory"
+        " backend, if supported by the OS.");
     /*
      * Do not delete/rename option. This option must be considered stable
      * (as if it didn't have the 'x-' prefix including deprecation period) as
diff --git a/include/sysemu/hostmem.h b/include/sysemu/hostmem.h
index df5644723a..9ff5c16963 100644
--- a/include/sysemu/hostmem.h
+++ b/include/sysemu/hostmem.h
@@ -64,7 +64,7 @@ struct HostMemoryBackend {
     /* protected */
     uint64_t size;
     bool merge, dump, use_canonical_path;
-    bool prealloc, is_mapped, share;
+    bool prealloc, is_mapped, share, reserve;
     uint32_t prealloc_threads;
     DECLARE_BITMAP(host_nodes, MAX_NODES + 1);
     HostMemPolicy policy;
