PETALING JAYA: The Real Estate and Housing Developers’ Association (Rehda) has started talks with various state governments to reduce their pricing threshold for property purchases among foreign buyers in order to fall in line with the federal government’s Budget 2020 proposal.
In the recent budget, Finance Minister Lim Guan Eng proposed that the RM1mil threshold be reduced to RM600,000 to help reduce the country’s huge residential overhang, including serviced apartments and small office home offices, which exceed some RM34bil.