GEORGE TOWN: The Urban Wellbeing, Housing and Local Government Ministry is against the proposal by developers to lower the minimum price limit in Penang for foreigners.
Minister Tan Sri Noh Omar said they did not receive any applications from the state government about it.
“Approval by the ministry is needed to lower the mininum price to RM800,000.
“I will support only the lowering of housing prices for locals,” he told a press conference at Pen Mutiara Restaurant in Batu Maung yesterday.
State Housing Committee chairman Jagdeep Singh Deo said they acknowledged receiving the proposal from Penang Real Estate and Housing Developers Association to lower the minimum price of RM1mil for high-rise property on the island to RM800,000.
“No decision has been made on it,” he said.
In 2012, the state government prevented foreigners from buying landed property costing less than RM2mil on the island and RM1mil on the mainland.
For stratified property, the limit is not less than RM1mil statewide.
Earlier, Noh presented mock cheques of RM5mil each to Penang Island City Council and Seberang Prai Municipal Council as part of the Federal Government’s distribution of annual grants to local governments.
Noh added that this year, RM302.2mil would be given to local governments nationwide.
Also present were ministry deputy secretary Datuk Halimi Abd Manaf, state Opposition Leader Datuk Jahara Hamid and Penang Umno secretary Datuk Musa Sheikh Fadzir.
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