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Malaysia’s Southern State Of Johor Calls For Property Purchase Restrictions By Foreigners To Be Halved To Bolster Real Estate Sales | South China Morning Post

by scmp.com posted 3months ago 161 views
The Johor Real Estate and Housing Developers Association (Rehda) is calling on the government to consider reviewing the current threshold of property acquisition by foreigners.According to Johor Rehda chairman Chong Yoon On, the minimum threshold of 1 million ringgit (US$242,000) per unit imposed in 2014 should be reverted to 500,000 ringgit.The measure was introduced by the previous administration to stabilise domestic prices from excessive speculation to enable local interests to acquire…

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