Budget 2020: RM600k threshold for foreigners to purchase urban high-rise properties

PETALING JAYA: The threshold for foreigners to purchase urban high-rise properties has been reduced from RM1mil to RM600,000 next year.

Speaking during his Budget 2020 speech in Parliament on Friday (Oct 11), Finance Minister Lim Guan Eng said this was to reduce supply overhang of condominiums and apartments amounting to RM8.3bil in the second quarter of 2019.