ISKANDAR PUTERI – The Johor government will propose to the Housing Ministry to revive the “Malaysia My Second Home” (MM2H) programme as part of efforts to overcome residential overhang in the state.
State Housing and Local Government Committee chairman Datuk Mohd Jafni Md Shukor said based on Johor Housing Development Corporation data, 80% of residential overhang in Johor involves serviced apartments.
The remaining 20% are bungalows and luxury houses located mostly in Johor Baru and Iskandar Puteri, he added.
The Bukit Permai assemblyman said he would bring the matter up with the new housing minister.
“We would like the federal government to revive MM2H because it will solve many issues of residential overhang involving luxury houses costing more than RM500,000 which could not be sold since two or three years ago.
“These houses can be offered for sale to buyers outside Malaysia,” he told reporters when met after the state assembly sitting here today.
Meanwhile, Jafni said the government is committed to building more than 21,000 affordable houses over the next five years, with more than 2,500 of them already completed or under construction.
Last September, former deputy finance minister Datuk Mohd Shahar Abdullah was reported to have said that Johor recorded the highest in overhung residential units with 6,000 overhang units worth RM4.7 billion, contributing 17% and 21% for each of the number and value of overhang in the country.
He said almost 60% of the overhang units were in the condominium or apartment property segment while in terms of price, almost 43% were within the price range of more than RM500,000 per unit. – Bernama, December 5, 2022
