KUCHING, May 4 (Bernama) -- Participants of the "Malaysia, My Second Home" programme in Sarawak may soon receive automatic 10-year visas instead of just for five years.
This follows the state government's willingness to extend the period of their social visit passes from five years currently to 10 years as practised by most states.
The aim was to make Sarawak properties more attractive to the participants who might want to buy rather than rent houses in the state, Chief Minister Tan Sri Abdul Taib Mahmud said today.
"This is one of the initiatives the government wants to work together with private sector developers to promote the programme globally and even in nearby Singapore so as to create a vibrant property industry and a thriving property market in Sarawak."
He said this when opening the four-day Sarbex Property Fair 2007 organised by the Sarawak Housing and Real Estate Developers' Association (Sheda) here today.
Under the "Malaysia, My Second Home" programme in Sarawak, each participant is allowed to purchase two residential units valued between RM150,000 and RM350,000 each depending on location.
Earlier, State Housing Minister Datuk Seri Abang Johari Tun Abang Openg said Sarawak had adopted central planning to avoid oversupply and projects being abandoned.
Besides, it would continue to insist that 30 per cent of all homes built were within the affordable price range of RM42,000-RM47,000 to ensure the availability of affordable housing, he said.
"However, we don't want to destroy the developer's profit margin and undermine the viability of the industry.
"So, in the key urban locations of Kuching, Miri and Bintulu, developers are allowed to build 20 per cent of their affordable homes in that range, reflecting the higher disposable income of urban residents," he said.
Sarbex 2007 is the largest and longest established property fair in Sarawak. It features over 60 booths run by property firms, financial institutions and government agencies.
-- BERNAMA
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