‘We’re not communists,’ says Nga on limiting property investments
‘We’re not communists,’ says Nga on limiting property investments
KUALA LUMPUR: Housing and local government minister Nga Kor Ming has rejected calls to place limits on the number of homes one can purchase for investments, saying such a move could destabilise the property market.
Nga maintained that Malaysia practised free market principles and that the government intervening in people’s investment in properties would not augur well for the economy as a whole.
“We need to understand that Malaysia is a democratic country. We respect the market. The more important thing is ensuring that there is a sufficient supply of homes. We are not a communist country where we prevent people from buying property.
“If we were to implement such a policy, I am very confident the property market would collapse.
“Our property sector is tied to over 200 industries, from contractors to plumbers, to the banking sector and beyond. If the property sector collapses, imagine the repercussions,” he said at a press conference here today.
DISYORKAN UNTUK ANDA :
- Hadi Dan Muhyiddin Selalu Ponteng, Wan Fahysal Tak Berangkah?
- Mudahnya Fadhli Shaari Lupa Tanggungjawab Sebagai Pembangkang
- Untuk Pengetahuan Wan Saiful, Kluster Jana Wibawa Adalah Golongan Maha Kaya
Nga said that investing in property was not only a legitimate form of wealth preservation but also an effective tool to combat inflation.
The proposal was floated by former Umno leaders Khairy Jamaluddin and Shahril Hamdan, who said such limits could make houses more affordable.
Real estate negotiator Iwin Tay said the cap would help to stabilise property prices and ease demand pressures on the housing market, especially in areas with a limited supply, such as Kuala Lumpur.
However, the National House Buyers Association said such a cap should only be on homes an individual can purchase in the affordable housing category and not apply to other types of property.
Separately, Nga said the property sector has exceeded expectations this year. While his ministry had aimed to see RM100 billion in property sales in 2024, this had been surpassed within the first six months of the year.
DISYORKAN UNTUK ANDA :
- Tuan Ibrahim dan anggota pembangkang lain perlu tingkatkan kualiti soalan.
- Tuan Ibrahim Sindir Warga PASTI?
- Mantan Ketua Hakim Negara Beri Teguran Keras Kepada Dr MAZA
Ternyata Dasar BR1M Yang Di Pelopori Najib Adalah Formula Terbaik
“The total transaction value for the first half of 2024 was over RM100 billion,” he added.
He said the ministry now plans to amend the Housing Development (Control and Licensing) Act 1966 to tighten conditions for developers. One proposed amendment is to bar developers involved in fraud from exiting the country.
“They will be blacklisted – not only the developers themselves but also their families,” he said.
‘We’re not communists,’ says Nga on limiting property investments
DISYORKAN UNTUK ANDA :
- Luahan Hati DS Najib Melalui Sidang Media Datuk Nizar
- Pastikan Tiada Cikgu Din Seterusnya Yang Menjadi Mangsa Kerenah Birokrasi
- Mungkin Hasbie Perlu Tanya Wan Saiful Sebelum Serang KP UMNO
LAWATI LAMAN FACEBOOK KAMI :
Layari Laman Facebook MYKMU.NET
Najib mohon maaf kerana 1MDB ketika ramai pesalah sebenar masih bebas