KUALA LUMPUR: Less than RM2.5bil worth of residential property in Malaysia was either bought by or had ownership transferred to foreigners over the past 18 months, says Local Government Development Minister Nga Kor Ming.
He said Malaysians still accounted for the bulk of property transactions and foreigners comprised less than 1% of residential property transactions from last year up to June this year.
"According to data from the National Property Information Centre (Napic), Malaysians recorded 571,810 residential property transactions worth RM261.956bil.
"Foreigners recorded only 1,437 residential property transactions worth RM2.484bil in the same period," he said in a parliamentary written reply dated Oct 30 to Datuk Dr Alias Razak (PN-Kuala Nerus), who asked about the number of foreigners who owned homes in Malaysia.
Nga also said his ministry would continue to prioritise increasing home ownership among Malaysians.
This would be done through the government's continuous efforts to develop more affordable housing around the country through the Rumah Mampu Milik project.
"We want to ensure that every Malaysian will have a place to call home regardless of whether it's through ownership or rental under the concept of housing as shelter for all," he added.
