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.

Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Business News

Oil gains 1% on hopes of firmer demand
JPMorgan investors weigh CEO Dimon’s strategy, succession plan
Muhibbah rides on Cambodian tourism uptick
Feytech gears up for expansion to meet growing demand
Ready to rise up the ranks again
SC working overtime to combat spread of scams
Russia and Malaysia sign tax agreement
MGB ACHIEVES 23% PROFIT SURGE IN 1Q24
GDP up 4.2% in 1Q24
Chinese firms invest in ‘green’ jet fuel

Others Also Read