KOTA KINABALU: Sabah bumiputra homeowners will benefit from better ownership terms following changes to property laws, set to take effect on Dec 1.
Datuk Seri Dr Joachim Gunsalam, the Deputy Chief Minister II and state Local Government and Housing Minister, announced that new policies will govern the 30% bumiputra quota in the private housing sector.
He said these changes are designed to optimise benefits for bumiputra homeowners.
"Firstly, the 30% bumiputera quota for private homebuyers stays, where the private sector must allocate 30% of units for sale to bumiputra buyers. However, developers will no longer be allowed to allocate specific units for this purpose, as practised before," he said.
Additionally, bumiputra homeowners will now be allowed to resell their properties to anyone, regardless of their ethnicity.
For homes purchased before the change, owners can request for the removal of the prohibition clause by applying to the Land and Surveys Department, based on the department’s standard procedures.
Furthermore, any discounts or rebates offered by developers to non-bumiputra buyers must also be extended to bumiputra buyers, with an additional 5% discount.
"For example, if a non-bumiputra buyer receives a 15% discount or rebate, bumiputra buyers must get 20% off," Joachim said.
He said this initiative aims to reduce bureaucracy in the sale of houses and properties to bumiputra buyers, and he believes these changes will help ensure the value of bumiputra-owned properties is comparable to those owned by the non-bumiputra.
