Foreigners can only buy properties costing RM1m and above from March 1

KUALA LUMPUR: The Guideline on the Acquisition of Properties by foreigners at the minimum threshold of RM1mil, as proposed in the Budget 2014, will take effect from March 1.

The Economic Planning Unit of the Prime Minister's Department said on Friday in states other than the Federal Territory of Kuala Lumpur, Putrajaya and Labuan, the actual enforcement date is subject to the respective state authority.