Minister defends plan to offload unsold luxury properties to foreigners


Zaim Ibrahim

HOUSING and Local Government Minister Zuraida Kamaruddin today defended her proposal to sell unsold luxury properties to foreigners under the Malaysia My Second Home (MM2H) programme.

Facing criticism, she said the move is necessary to enable the government to focus on affordable housing, and to address glut in the high-end property segment.


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Comments


  • The government should not protect the developers. Let the market dictate the value of the properties and more affordable prices will be attained. That is better for people looking to buy.

    Posted 4 years ago by Malaysia New hope

  • Are the properties in an area where people on M2H want to live? Are they value for money? These are elements which decide on saleability to foreigners wanting to retire to Malaysia. But this is not the solution. Planners need to restrict the number of permits to build properties the local market cannot absorb.

    Posted 4 years ago by Malaysia New hope