KUALA LUMPUR: According to Local Government Development Minister Nga Kor Ming, less than RM2.5bil worth of residential property in Malaysia was either purchased by foreigners or had ownership transferred to them over the past 18 months. Malaysians still account for the majority of property transactions, with foreigners making up less than 1% of residential property transactions from last year until June of this year. The National Property Information Centre (Napic) has provided data showing that Malaysians conducted 571,810 residential property transactions worth RM261.956bil, whereas foreigners only made 1,437 transactions worth RM2.484bil during the same period. This information was given as a written reply to a parliamentary inquiry from Datuk Dr Alias Razak (PN-Kuala Nerus) who asked about the number of foreign homeowners in Malaysia.
Nga further stated that his ministry will continue to prioritize increasing home ownership among Malaysians. To achieve this goal, the government will focus on developing more affordable housing throughout the country under the Rumah Mampu Milik project. The ultimate objective is to provide every Malaysian with a place to call home, regardless of whether it’s through home ownership or rental, adhering to the concept of housing as shelter for all.
