Non-Penangites can now buy affordable housing in the state
Susan LoonePublished: Jan 28, 2019 3:53 PM | Updated: Jan 28, 2019 3:56 PM
Penang has announced a slew of measures to overcome the issue of overhang in the state's housing sector, including loosening requirements that limit sales of units to those residing in the state.
According to state exco Jagdeep Singh Deo, non-Penangites will now be allowed to purchase between 20 to 40 percent of the units available on the market.
"After building, we want to ensure accessibility of these units to buyers...
State introduces measures to curb overhang, but assures that the sector is under control.
Why are we selling houses to foreigners who are not even going to stay in the country? Most of them just purchase and rent out as investments. Please implement a policy where priority is given to 1st house buyers. If houses are being purchased for investment, please impose a high levy. There are many who don’t even have a house because the houses are too expensive mainly due to market manipulation by these so called investors and also the developers.
Who do not want a roof over their head? Overhang because affordable housing is not affordable! Address that instead !
Please make sure the purchase is not controlled by one race especially in Penang