Chinese nationals own most houses under MM2H programme

01 Nov 2018 / 19:07 H.

KUALA LUMPUR: A total of 4,499 applications to purchase homes under Malaysia My Second Home Programme (MM2H) have been approved for foreign nationals since 2007, the Dewan Rakyat was told today.
Deputy Housing and Local Government Minister Raja Kamarul Bahrin Shah Raja Ahmad Baharuddin Shah said of the total, Chinese citizens owned 1,664 units or 37%.
He said this was followed by citizens of the United Kingdom with 357 units, Bangladesh (250 units); Iran (217); Japan (208); Pakistan (192); Singapore (175); Australia (147), South Korea (127), United States (115) and other countries (1,047).
"Based on the 2010 Malaysian Population and Housing Census data from the Department of Statistics, there are 106,197 foreigners living in their own homes nationwide," he said during a question and answer session.
He was responding to Wong Shu Qi (PH-Kluang) on the number of houses owned by foreigners in the country, according to their respective citizenships.
Meanwhile, on a large number of homes left unsold due to a discrepancy between offers and asking prices, Raja Kamarul Bahrin said his ministry would create a comprehensive database to enable developers to identify the housing needs of the people.
"This database can be accessed by any agency in the Federal government or state government and private developers to identify the real demand for housing in an area and we are also in the process of providing houses at appropriate prices.
"The ministry is also working with several agencies such as the National Property Information Centre (NAPIC), Bank Negara, Department of Statistics and Inland Revenue Board to address this issue," he added. — Bernama

thesundaily_my Sentifi Top 10 talked about stocks