{"id":4022,"date":"2019-09-12T10:12:41","date_gmt":"2019-09-12T10:12:41","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=4022"},"modified":"2021-06-04T14:38:49","modified_gmt":"2021-06-04T07:38:49","slug":"malaysia-to-court-chinese-home-buyers-with-overhang-homes","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/malaysia-to-court-chinese-home-buyers-with-overhang-homes\/","title":{"rendered":"Malaysia to court Chinese buyers with overhang homes"},"content":{"rendered":"

Housing ministry calls on investors in Hong Kong and mainland China to purchase unsold properties<\/p>\n

\"\"
Kuala Lumpur skyline at twilight. f11photo\/Shutterstock<\/figcaption><\/figure>\n

Even a minister can\u2019t afford a high-end home in Malaysia.<\/p>\n

This was the observation of housing and local government minister Zuraida Kamaruddin, speaking to reporters Wednesday on the sidelines of a smart city conference in Hong Kong, the Malay Mail<\/a> reported.<\/p>\n

The federal minister believes Chinese buyers can help address the overhang of homes in the country, in lieu of Malaysians priced out from upscale properties.<\/p>\n

\u201cI was thinking of our unsold units which is about MYR100 billion (USD24 billion) worth of the higher market,\u201d said Zuraida. \u201cI\u2019m not talking about the lower market, so I was thinking about organising this HOC campaign in China or in Hong Kong where we can attract these people to come and buy homes here.\u201d<\/p>\n

More: PropertyGuru Asia Property Awards (Malaysia) 2019 with record numbers<\/strong><\/a><\/p>\n

Zuraida aims to formally propose to the Cabinet, with an eye toward promoting the plan under the Malaysia My Second Home (MM2H) programme.<\/p>\n

High-end homes in Malaysia are comparatively cheaper than apartments in Hong Kong, she stressed. \u201cIn fact, it\u2019s cheaper to buy homes here instead of there and to fly, with the price of travelling making it cheaper to have homes in Malaysia than in Hong Kong. I went to one unit of flat there at 250 square feet; it cost RM3 million. Even a minister can\u2019t afford a home there.\u201d<\/p>\n

Malaysia is host to more than 45,000 completed but unsold residential properties as of 2018.<\/p>\n","protected":false},"excerpt":{"rendered":"

Housing ministry calls on investors in Hong Kong and mainland China to purchase unsold properties<\/p>\n","protected":false},"author":8,"featured_media":20271,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92],"tags":[331,125],"class_list":["post-4022","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-kuala-lumpur","tag-malaysia","news_country-malaysia","news_author-property-report"],"acf":[],"yoast_head":"\nMalaysia to court Chinese buyers with overhang homes | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.asiapropertyawards.com\/en\/malaysia-to-court-chinese-home-buyers-with-overhang-homes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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