Guan Eng: Lowering threshold for foreigners only applicable to existing unsold condos, apartments

KUALA LUMPUR (Bernama): The move to lower the threshold for foreigners to buy condominiums and apartments in urban areas from RM1mil to RM600,000 is only applicable to existing unsold units, says 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.

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Lim Guan Eng , Budget 2020 , Foreigner , Property Overhang , Threshold

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