The Malaysian government may impose a one-house-per-individual restriction, according to Datuk Seri Ismail Sabri Yaakob, Minister of Domestic Trade Cooperatives and Consumerism.
He said that any individual who wants to acquire a second home must sell his /her first house and that the government is studying the possibility of approving only 10 percent rental increases for houses once a contract expires.
“Since there is no rule to control the rental rate, some owners increase it by 100 percent,” Ismail Sabri said.
He said that a room in Kuala Lumpur has a rental cost ranging from RM300 to RM400 and added that only the affluent can afford to buy eight to 10 houses to be rented out to those who cannot afford to purchase their own homes.
“The owner would then increase the rental after the contract expires after two years,” said Ismail Sabri.
http://www.homeguru.com.my/property-news/2011/9/1061/Malaysian%20govt%20to%20consider%20limiting%20home%20purchases
He said that any individual who wants to acquire a second home must sell his /her first house and that the government is studying the possibility of approving only 10 percent rental increases for houses once a contract expires.
“Since there is no rule to control the rental rate, some owners increase it by 100 percent,” Ismail Sabri said.
He said that a room in Kuala Lumpur has a rental cost ranging from RM300 to RM400 and added that only the affluent can afford to buy eight to 10 houses to be rented out to those who cannot afford to purchase their own homes.
“The owner would then increase the rental after the contract expires after two years,” said Ismail Sabri.
http://www.homeguru.com.my/property-news/2011/9/1061/Malaysian%20govt%20to%20consider%20limiting%20home%20purchases
