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Dr M: Foreigners can help resolve Malaysia's property overhang
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Kuala Lampur, Oct. 11 -- Malaysia must resolve its property overhang problems for apartments and condominiums, said Tun Dr Mahathir Mohamad after the tabling of Budget 2020 today.
Speaking during a press conference, the prime minister stressed that Malaysians will not be left out from purchasing these properties, while foreigners will not be allowed to purchase landed properties.
"As you know, there is a property overhang. This is limited to flats (apartments and condominiums). That's just flats and if there's a property overhang at this moment, we need to sell off these properties.
"Of course, there will be foreign buyers but local buyers should not be cut out just because foreign buyers are buying lower price flats," he explained.
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