News: Malaysians To Be Given Priority In Buying Unsold High-End Homes

Sep 17, 2019

Federal Territories Minister Khalid Samad assured local buyers that they will be prioritised in the government’s move to resolve the issue of unsold high-end houses worth RM100 billion.

The Minister said serious efforts would be undertaken to ensure local buyers would always be prioritised in purchasing unsold homes in Malaysia.

Khalid, however, cautioned that if the government’s effort proves unsuccessful, it must think about the reputation of the country’s property industry and developers’ interests, reported Bernama.

Read more: 7 Reasons Why Buying A High-Rise Unit Is As Good As A Landed Property

He also said the “Malaysia My Second Home” programme (MM2H) is one of the means being considered if there is a lack of local buyers for the unsold properties.

Housing and Local Government Minister Zuraida Kamaruddin recently clarified that the MM2H programme would be utilised to combat the surplus of high-end houses and not for the Home Ownership Campaign (HOC).

She also revealed that the campaign to resolve the issue of unsold high-end houses is still being discussed in the Ministry and has not yet been raised to the Cabinet.

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Leena .
Senior Real Estate Negotiator
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(+60) 18-6697338