CLOSE X

Register - if you don't have an account

Yes! Sign me up for Global Property Guide's fortnightly email newsletter.


Login - for registered users

Forgot Password?
Explore destinations
continent map couldn't be loaded Pacific Europe & Russia North America Latin America Asia Africa Middle East Caribbean

 



Investment Property News


My company
Global Property Guide

ON GPG


Malaysia mulls curbs on foreign property buyers

Mar 25, 2017 | 0 Comment(s)


The Malaysian government is considering making it mandatory for foreign buyers to pay in U.S. dollars when buying a property in Malaysia. The government may also raise the minimum purchase price for properties bought by foreigners.
 
The weakening of the ringgit against foreign currencies is the primary reason, say experts. The improving exchange rate (from the perspective of foreigners) has increased foreign buyers' interest in the Malaysian housing market. The federal government is planning to raise the minimum floor price, currently RM1 million per property (US$225,963), and to switch the floor price currency from ringgit to US dollar, for all foreign property buyers.
 
The Department of Urban Wellbeing, Housing and Local Government recently submitted a report to the cabinet on the impact of these steps on Malaysia's economy and housing markets. 
 
The Penang state administration has already announced a plan to raise the minimum price for landed properties on the island to RM3 million (approximately $678,000). 
 
However, the state government has halved the approval fee for foreign purchasers of stratified properties - i.e., apartments -  on the island costing from RM1 million to RM1.5 million, from 3% to 1.5%. 

 






Market Analysis - Malaysia
Time series for residential property
 
House price index, Malaysia
Price/Rent Ratio: 27 yrs

Free Newsletter

Fortnightly updates from the global property arena directly to your inbox.


Email Address:





Latest Country Analysis
News & Discussion


PROPERTY RECOMMENDATIONS

 
Download free property reports from international research houses

Our Newsletter

 
Fortnightly updates from the global property arena directly to your inbox.

Manage subscriptions