Sunday, 13 Oct 2019 03:50 PM MYT
KUALA LUMPUR, Oct 13 — The move to lower the threshold for foreigners to buy condominiums and apartments in urban areas from RM1 million to RM600,000 is only applicable to existing unsold units, said Finance Minister Lim Guan Eng. “Existing units that have not been sold are the residential units that do not interest local buyers. Hence the relaxation in the form of lower foreign buying threshold for condominiums and apartments will not deny the rights of local buyers,” he said in a statement today.
“Local buyers who wish to buy, are not being denied their rights; they can buy now and the units will not remain as unsold properties,” he added.
Property developers ought to be fined for developing unsellable units and employing poor marketing strategies. Do not bail out these profit-oriented goons at the expense of national security and societal ethnic misdistribution.
Its an extremely unpopular decision which only benefits the luxury developers and will result in an influx of foreigners into the country. It will also encourage speculation and drive up prices again making it harder for locals to purchase property.
Very weak idea....please go and learn more!!
saya putar halim
Ringgit will go down further...
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