THE Selangor government’s decision to lower the threshold of house prices for foreigners, particularly for strata homes, could jump-start the property market in the state, which recorded an overhang of 4,872 residential units in the third quarter of 2019 (3Q19).
CCO & Associates (KL) Sdn Bhd ED Chan Wai Seen said the lower threshold for strata landed homes could also help ease the overhang, especially in the strata landed segment.
“The RM1.5 million threshold could attract foreigners because strata landed development is a niche market. Foreigners prefer looking for landed homes in a gated and guarded, proper townships.
“But for strata high-rise homes, a RM1.5 million threshold is still high compared to other states,” he told The Malaysian Reserve.
Selangor is among the top three states with high and increasing inventories in Malaysia.
Media Title: The Malaysian Reserve
Date: 13 Feb 2020