Published: Monday February 18, 2013 MYT 4:42:00 PM
Buyers urged to view property personally instead of solely trusting online info
By LOH FOON FONG
KUALA LUMPUR: Property buyers should view the property in person instead of making their decision based solely on online information, said Housing and Local Government Minister Datuk Seri Chor Chee Heung.
He said this advice was prompted by the many reports received regarding false promises and advertisements for online purchases of other products.
“Besides looking at information online, I would encourage property buyers to visit Malaysia and view the properties to ensure that everything is all right,” he told reporters after the launch of online site Malaysia.SouFun.com here on Monday.
Property developers, he said, should also organise tours for buyers to view their properties.
The ministry, added Chor, also welcomed foreign clientele, who, currently, were mainly from China.
Aside from the Malaysia My Second Home programme, which was gaining popularity among foreigners, he said the country was heading towards becoming an education hub in the region, attracting many parents from China and South-East Asia who wanted to buy residential homes for their children studying here.
There were also currently no plans to increase the RM500,000 minimum price for foreigners to purchase properties in Malaysia despite the rise in prices of some linked houses in Petaling Jaya and Kuala Lumpur, he said.
The Government, he said, had mulled raising the minimum price but found that the number of foreigners acquiring properties in this country was still low - less than “two digit” in terms of overall percentage, with Singaporeans making up around 5%.
“However, the Government may review it again in future,” he said.