KOTA KINABALU: The amendments to property laws for Bumiputeras is a good step to helping this community own homes, says the Sabah Housing and Real Estate Developers Association (Shareda).
Shareda President Datuk Chua Soon Ping said the policy, which takes effect on Dec 1, is historic and progressive.
He stated that it creates new opportunities for Bumiputera homebuyers to engage more actively in the property market.
“We are especially pleased to see the successful realisation of a key proposal that Shareda has been advocating for over the last two years,” he said when contacted.
Chua said removing the resale restrictions allows Bumiputera buyers to resell their houses at any time, without a holding period.
“We are proud that Sabah is the first state in Malaysia to implement such a transformative policy,” he said.
Chua said the timing of this policy change was particularly significant, as the Sabah Malaysia My Second Home (MM2H) programme would launch next year.
However, he said that the policy would not affect existing native titles.
