Lower limits for foreigners to buy condos only for existing unsold units

File pic shows potential house buyers Jester Ooi (foreground second left) and ST Wan (second right) being assisted by Utopia project property advisor Danish Lim (right) and Jayeinn Goh (left) during the StarProperty.my Fair 2019 at Sunway Carnivall Mall in Seberang Jaya. - Starpic by MUSTAFA AHMAD/The Star

KUALA LUMPUR: 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.

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.