PM: Higher land prices lead to higher property prices

KUALA LUMPUR:A higher price new projects. can be offered to Kampung Baru On another issue, Dr Mahathir landowners but the properties said it was fine for Deputy developed there will eventually Chief Minister II P. Ramasamy to escalate to seemingly unaffordable feel unsatisfied with the Security levels, says Tun Dr Mahathir Taking a tough Offences (Special Measures) Act Mohamad. (Sosma) 2012 to be used on 12 peo­ stance:Dr Mahathir The Prime Minister said higher ple with alleged links to the addressing the press land prices would lead to higher Liberation Tigers of Tamil Eelam property prices that might be out of after officiating at (LTTE). reach for many Malays. the Medical “The situation is different now. ''The current market price out­ Device Expo 2019 Police don’t simply arrest people. side of Kampung Baru can reach up and International There must be a reason for it and to RM7,000 psf (per square foot). Medical Device I have heard their explanation and “If we followed that, many Malays Conference in Kuala I am satisfied. If he isn’t satisfied, would not be able afford to buy a Lumpur. With him that’s alright,” he said. property there. That is why a spe­ are Health Minister Ramasamy earlier said the arrest cial price is offered,” he said at a Datuk Seri Dr of 12 people, including two DAP press conference after officiating Dzulkefly Ahmad (left) assemblymen - Seremban Jaya’s P. at the International Medical Device and Health director- Gunasekaran and Gadek’s G. Conference and Malaysia Medical general Datuk Saminathan - under Sosma was a Device Expo. Dr Noor Hisham hard pill to swallow as Pakatan had Recently, the government offered Abdullah. been critical of draconian laws and to buy Kg Baru land at RM850 psf vowed to repeal them. in an effort to redevelop the area Ramasamy also said that Dr but many landowners there consid­ “A property overhang can result luxury property in the past but he there are not enough buyers, we Mahathir’s stand went against ered it to be too low. in a crisis which has happened in said the situation was different need to sell them otherwise devel­ Pakatan’s promises. Separately, Dr Mahathir said Hong Kong and Tokyo before and now. opers will get into trouble,” he said. reducing the minimum property therefore we need to get rid of the “Forest City is different. It is a Finance Minister price for foreign buyers to overhang so that the property mar­ very luxurious development that was recently reported clarifying RM600,000 as tabled in Budget ket will be healthy again,” he said. cannot afford to buy. that the reduced price for foreign­ Watch the video 2020 was to help reduce the proper­ Dr Mahathir admitted that he “Here, Malaysians can buy and ers only applied to existing unsold thestartv.com ty overhang in the country. was critical of foreigners owning a help reduce the overhang but since condominium units and not for