Malaysia reduces minimum property ceiling for foreigners

• Proeksa Meas
• 2 November 2019
• International News
• 3106 Views

The Malaysian government has significantly reduced the minimum property purchasing amount for foreign buyers from US$238, 581 to US$143,149 in a move which has brought support in some quarters and opposition from others.

While the country’s biggest property developer group, the Real Estate and Housing Developers’ Association (REHDA), applauded the move saying it will help shift vacant high-rise, high end stock and reinvest in more affordable projects.

However, the National Buyers Association has claimed that the move will cause developers to raise the prices of lower cost properties to attract foreign buyers which drive up inflation and cause a shortage of more affordable properties.

REHDA refutes this claim saying that the policy will affect unsold high rise, strata properties priced above MYR600,000 in Kuala Lumpur and other major cities.

 

• Policy and Strategy