Weekly Industry News

Lowering of foreign buyer price thresholds could boost property sales

Weekly Industry News

A balancing act is what governments must do when they attempt to strike a balance between the social and economic impact that the foreign ownership of properties will have on their respective countries, The Edge reported today.

Closer to home, even though Putrajaya lowered the foreign ownership price threshold in Budget 2020 to RM600,000 from RM1 million effective this year, state governments have jurisdiction over property and they have their own price caps in this matter.

For instance, Selangor has retained its RM2 million minimum threshold for foreign buyers — now the highest among the states — following a move by Penang last Thursday to tweak its price floor.

Media Title: The Edge

Date: 15 Jun 2020

Photo Credit

We take processes apart, rethink, rebuild, and deliver them back working smarter than ever before.