Ceiling price reduced for foreign home buyers


Reality estate: Ceiling prices for stratified properties will be reduced from RM1mil to RM800,000, says Jagdeep.

GEORGE TOWN: Penang has reduced its minimum price threshold for foreign property ownership by up to 40% to clear RM2.6bil worth of overhang units in the state.

Penang local government, housing, town and country planning committee chairman Jagdeep Singh Deo said the revised pricing was valid for one year starting yesterday.

Subscribe or renew your subscriptions to win prizes worth up to RM68,000!

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 Nation

Cop killing teen: No brake marks found at crash site, says witness
Ebit Lew shared his sexual desires with me, says witness
BBC Sabah stands firm behind Hajiji
Firms from Malaysia, Singapore partner to advance Asean's renewable energy integration
Orphanage caretaker arrested for rape also caned 10-year-old in viral video, cops say
Selangor govt, Klang Royal City Council urged to heed call to clean up city
Syariah judges must uphold Islamic principles of justice even when challenged, says Selangor Sultan
Two Immigration officers to be charged soon in counter setting case, says MACC chief commissioner
Najib’s house arrest appeal scheduled for hearing in January 2025
Retiree loses RM873,000 to investment scam

Others Also Read