Guan Eng: Lowering threshold for foreigners only applicable to existing unsold condos, apartments

  • 📰 staronline
  • ⏱ Reading Time:
  • 14 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 75%

Business Business Headlines News

Business Business Latest News,Business Business Headlines

KUALA LUMPUR (Bernama): The move to lower the threshold for foreigners to buy condominiums and apartments in urban areas from RM1mil to RM600,000 is only applicable to existing unsold units, says Finance Minister Lim Guan Eng.

He said the measure announced in the 2020 Budget, effective from Jan 1 to Dec 31 next year, does not cover new projects that are yet to be launched.

Lim said the move is expected to benefit the property sector without being detrimental to Malaysians’ interest. Lim explained that the proposal was made to reduce the supply overhang in condominiums and apartments amounting to RM8.3bil as of the second quarter of 2019.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Ministers bffs are the developers . U scratch my back , I scratch ur back.

This country is turning into a 'pariah state'.

Why don't you lower the price of the units so that locals can afford to buy. Greedy developers said cannot

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in BUSİNESS

Business Business Latest News, Business Business Headlines