BUKIT LANJAN: Time for Malaysians to get back at property developers - force prices down!

BUKIT LANJAN: Time for Malaysians to get back at property developers - force prices down!
It was revealed that only 1% of property sales in 2017 went to foreigners - and this is why there is a property glut in Malaysia.
High end properties that cost RM800,000 and above are the most affected.
“One of the reasons why property prices in Malaysia are beyond the reach of Malaysians, even so-called affordable houses, is due to the artificial demand created by foreigners,” Gerakan Deputy Speaker Syed Abdul Razak Alsagoff said.
“Developers’ greed for insane profits led them to raise property prices and to concentrate on the high end market.
“Property then became not affordable anymore to Malaysians. Now that the foreigners have turned the market cold, property developers are left in the lurch,” he added.
Syed Razak, who is Gerakan’s nominee to contest N.37 Bukit Lanjan in the coming 14th General Election (GE14), said the “stressed out” domestic and global economies made worse by inflation had affec…
It was revealed that only 1% of property sales in 2017 went to foreigners - and this is why there is a property glut in Malaysia.
High end properties that cost RM800,000 and above are the most affected.
“One of the reasons why property prices in Malaysia are beyond the reach of Malaysians, even so-called affordable houses, is due to the artificial demand created by foreigners,” Gerakan Deputy Speaker Syed Abdul Razak Alsagoff said.
“Developers’ greed for insane profits led them to raise property prices and to concentrate on the high end market.
“Property then became not affordable anymore to Malaysians. Now that the foreigners have turned the market cold, property developers are left in the lurch,” he added.
Syed Razak, who is Gerakan’s nominee to contest N.37 Bukit Lanjan in the coming 14th General Election (GE14), said the “stressed out” domestic and global economies made worse by inflation had affec…