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KPKT wants state govts to set suitable property ceiling price for foreigners

Last update: 19/10/2019

KUALA LUMPUR, Oct 19 -- The Ministry of Housing and Local Government (KPKT) has asked the state government to set appropriate property ceiling price for foreigners in their respective states.

Its minister Zuraida Kamaruddin said the announcement of the RM600,000 in the Budget 2020 was just a guide and stressed that it would be implemented for a year starting next year.

"It is proposed by the Ministry of Finance in view of so many unsold houses.

"So I ask the state government to determine the appropriate ceiling price because they have the power and of course the ceiling price of each state like Johor and Perak is not the same. They have their own ceiling price," she said.

Zuraida said this at a press conference following the launch of ‘Be Green’ programme organised by Petronas Chemicals Group Berhad at the Institut Kemahiran Tinggi Belia Negara Dusun Tua, Hulu Langat, today.

Also present was Petronas Chemicals Group Berhad Managing Director Datuk Sazali Hamzah.

The programme is aimed at raising awareness among local communities about the importance of recycling and taking care of Sungai Langat so that it can be used as a recreation area for visitors.

Last Tuesday, National Budget Office of the Ministry of Finance director Johan Mahmood Merican announced that measures were being taken to reduce the stock of unsold properties, particularly high-value commercial units such as condominiums.

While presenting the Budget 2020, Finance Minister Lim Guan Eng announced that the government would lower the price of high-rise real estate in urban areas for foreign ownership from RM1 million to RM600,000.

Zuraida also welcomed Transport Minister Anthony Loke's proposal on Friday that transit-oriented development (TOD) projects be given the leeway to reduce the number of parking lots as it would reduce the cost of residential units as well as encourage the use of public transport.

"When homes are built near public transport, parking facilities are no longer needed, this will help young people in the city reduce their cost of living," she said.

-- BERNAMA