QUOTE(iGamer @ Sep 30 2021, 12:14 PM)
Good riddance.
Look at every city in the world, cities that were targeted by foreigners (be it angmoh or rich Tongshan) mostly inflated local prop prices until the local ppl can’t afford it.
Only those who goreng prop or developers benefit from their presence. Normal peasants will suffer rather than benefit from it.
so you telling me metropolitans like New York/Tokyo/Singapore their million dollar properties are being inflated because of programs like MM2H? You better think again.
Every nation where they are moving towards high income (which we hope for) would eventually face the property bubble crisis where homes are no longer affordable. You better look up on the % of foreign ownership of our properties here in malaysia.
The low tier/mid tier homes will still remain a place for the local malaysian while the higher tier property will continue have it's own ball game all together. The inflation of property price since after 2007 doesn't only happen in malaysia for y our information, unless one nation controls their housing development like singapores HDB it's still pretty much in reflects back to the buying power of the people against what's being offered by the developer.
Like i said, every state had already inplant a policy where foreigners would not be able to own props below RM500k for rural places, below RM2m for propers in KV, JB if it i wasn't mistaken it's 1m. Those are not properties and average malaysian is looking for to begin with. Now... we basically lose out totally when these group of ppl leaves malaysia.
No matter how you see it.. we lose more than we gain.