Johor govt mulls lowering RM1mil threshold for property acquisition by foreigners

  • Nation
  • Friday, 20 Sep 2019

JOHOR BAHRU, 2 Sept -- Pengerusi Jawatankuasa Perumahan, Komunikasi dan Multimedia negeri Dzulkefly Ahmad ketika sidang media berkaitan operasi bersepadu bagi memadam kebakaran 16 hektar hutan di Jalan Tanjung Kupang dekat Gelang Patah sejak 21 Ogos lepas dihentikan mulai hari ini. Keputusan itu diambil susulan daripada status pemadaman kebakaran oleh Jabatan Bomba dan Penyelamat (JBPM) negeri, yang kini sudah mencapai 99 peratus. --fotoBERNAMA (2019) HAK CIPTA TERPELIHARA

JOHOR BARU: The Johor government is looking at lowering the current RM1mil threshold for foreigners to buy property as an incentive to sell off 51,000 unsold properties in the state.

State Housing, Communication and Multimedia Committee chairman Dzulkefly Ahmad (pic) said that properties priced at RM600,000 and above make up between 60% and 70% of unsold properties here.

"Among the incentives that we are looking at is to review the RM1mil threshold of property prices for foreigners to buy property in Johor.

"The matter will be reviewed by the state Land and Mines Office as the matter comes under their jurisdiction," he said when met at a property fair held at a shopping mall here on Friday (Sept 20).

The Kota Iskandar assemblyman however assured that the lowering of the minimum threshold would not increase property prices for locals.

The measure was introduced by the previous administration to stabilise domestic prices from excessive speculation to enable local interests to acquire quality properties valued less than RM1mil per unit, especially residential units.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3

Johor , property , foreigners


Did you find this article insightful?


Across The Star Online