GEORGE TOWN:An assemblyman from the DAP has voiced concern over the Penang state government’s policy on the sale of houses and buildings at world heritage sites to foreigners.
Lau Keng Ee (DAP-Pengkalan Kota) said the state government should monitor and take action on the matter because it has resulted in many people in the state to be increasingly marginalised.
He said the price of homes and heritage buildings in the area was formerly only about RM300,000 but now has surged drastically reaching more than RM2 million.
He said foreigners and foreign companies were among the reasons for prices of properties at heritage sites to have jumped significantly “because they can afford to buy expensive properties due to foreign currency exchange rates being in their favour,” he said.
Speaking during the debate on the the state’s 2017 Budget, Lau said that local residents could no longer afford real estate in the area because the foreign owners have increased the rents.
He also requested that policies adopted by the DAP-led state government be revised or discontinued because these polices did not benefit the local people.
The state assembly will continue its budget meeting on Monday.