Budget 2020: Reducing property overhang, improving accessibility


  • Business Premium
  • Friday, 11 Oct 2019

KUALA LUMPUR: The government will lower the threshold on high-rise property prices in urban areas for foreign ownership from RM1mil to RM600,000 in 2020.

Finance Minister Lim Guan Eng said in his budget speech that the move will work towards reducing the supply overhang of condominiums and apartments, which amounted to RM8.3bil as at the second quarter of 2019.

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