- Joined
- Sep 22, 2008
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- 113
Hello bro,
Part 1: Property
I am not sure about buying 400K condo due to the min. 1m selling price for properties sold to foreigners. I believe 500K is still possible as i heard that the new 1m measure is only applicable for resale or new launches. please correct me if i am wrong.
Until last year foreign purchase of properties in Malaysia was so hot, developers were launching their properties overseas and selling at twice what locals can afford. So cooling measures were put in place to force developers to create more for locals. I believe RM1 mil is the minimum value a foreigner can buy properties. But This have cooled the iskandar region too much and soon, they may revert back to the old RM500k threshold.
It should be the responsibility of the state govenrment to build affordable housing. They have huge amount of unused state land. instead, they are selling these to developers at hefty prices and left locals in a lurch.