GEORGE TOWN: Bungalow offered with RM2.8 million price tag in 2012, says Chief Minister Lim Guan Eng today.
He said the bungalow was not bought immediately then as he was not financially prepared to buy it then.
"With the understanding with my wife (and the landlord), they agreed to go on with that price.
"At that time, I was not sure if I will be re-elected and if I could afford the monthly instalments.
"We needed to find the balance (money for down payment, and when we did) we bought it in July (last year)" he told reporters after opening his bungalow for a press visit today.
Lim said he obtained a RM2.1 million bank loan to finance his Jalan Pinhorn bungalow and the remainder sum of RM700,000 was paid in cash.
His bungalow is in the spotlight after Tasek Gelugor Member of Parliament Datuk Shabudin Yahaya had called for the purchase to be investigated for graft.