In a Facebook post earlier today, former Prime Minister Tun Dr Mahathir Mohamad has called upon Malaysians to not sell off their land haphazardly, as there are better ways they can profit with that land.
The Facebook posting, which was titled simply as Tanah (Land), highlighted the constant appreciation of land value. Therefore, he pointed out that landowners will profit a lot more if they just held on to their lands.
Former PM shares his advise on the value of land
“If you sell off your lands now, it means that you’re selling it at a lower price compared to what you can get in the future.
“As mentioned above the value of land only increases in time. If the land is developed with farming or construction projects, the value of the land will increase even more,”
“For example, a piece of land in a big city can be valued up to RM7000 per square feet, while an undeveloped piece of land is valued at only RM5 per square feet,” said Mahathir
In his posting, Mahathir also advocated for the act of renting out, instead of outright selling of land.
“Due to the increase in the land’s value in the future, it also means that rent for the land will also increase,”
“That is why leasing out your land is better than selling it off,” Mahathir added.
The former prime minister had made the news several times over his strong views on land issues, particularly for the Malays and also for historical land disputes with our neighbours in Southeast Asia.
Earlier this year, he had also publicly advised Malays to not depend on selling off their land as a source of income. He cautioned that once the land is sold, the money gained from the sale will not last. Last year, he had also remarked publicly that Malaysia should demand Singapore be returned.
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