KEPALA BATAS: Housing and Local Government Minister Zuraida Kamaruddin (pix) today defended her proposal to sell high-end properties to foreigners under the Malaysia My Second Home (MM2H) programme.
She said the property market needs to be stimulated with new incentives and policies as it is an integral component of the economy.
“It will help in terms of economic prospects, job market, and to invigorate affordable housing projects planned by the government,” Zuriadah said after a ceremony to confer Seberang Perai city status here.
The minister was criticised for suggesting that high-end properties be sold to China and Hong Kong nationals as there is a premium property overhang of RM100 billion.
“We are only talking about houses that are in the RM1 million and above bracket. It would be very bad for the country’s image to have empty buildings everywhere,” she had said.
Wanita PKR vice-chief Faizah Ariffin asked Zuraida to resign over her plan to take the Home Ownership Campaign to Hong Kong and China.
