Sep 13, 2011 - PropertyGuru.com.my
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The Malaysian government may impose a one-house-per-individual restriction, according to Datuk Seri Ismail Sabri Yaakob, Minister of Domestic Trade Cooperatives and Consumerism.

He said that any individual who wants to acquire a second home must sell his /her first house and that the government is studying the possibility of approving only 10 percent rental increases for houses once a contract expires.

“Since there is no rule to control the rental rate, some owners increase it by 100 percent,” Ismail Sabri said.

He said that a room in Kuala Lumpur has a rental cost ranging from RM300 to RM400 and added that only the affluent can afford to buy eight to 10 houses to be rented out to those who cannot afford to purchase their own homes.

“The owner would then increase the rental after the contract expires after two years,” said Ismail Sabri.

To contact the journalist, you may send your message to editor@homeguru.com.my
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Reader Comments: (7 comments)

dt97 - Mar 2, 2012
should impose loan-to-value ratio of 80% for purchase of 2nd property; loan-to-value of 60 % for purchase of 3rd property
Grace Tan - Sep 20, 2011
Anyone can think of better ideal to control the property price? property price raised sky high is definately caused the middle range incomer can not afford to buy an ideal house. Off course one-house-per-individual is not a good idea.
alan tham - Sep 14, 2011
i very support this minister idea because this way it will control the property price provided that the datuks must be the role model first & must be done in transparent way
Freddy Loke - Sep 14, 2011
Not only killing the real estate market, it also kill the banking sector!
angry bird - Sep 14, 2011
why such a short sighted & backward measure to curb rising property price ? there must be better solution that these ministers can think of..why not learn from other countries ??
ks chew - Sep 13, 2011
yes mr. minister with due respect may i know how many properties do you own?
Joseph Tan - Sep 13, 2011
I feel this is a very foolish rule and it will definitely dampen the property market. I think this minister do not know what he is talking about. He will kill the real estate market in Malaysia by his foolish rule.
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