News List

Ministry to discuss foreign property ownership pricing issue with MOF - Zuraida

PONTIAN, Oct 13  -- The Ministry of Housing and Local Government (KPKT) will hold discussions with the Ministry of Finance (MOF) on the lowering of the threshold for foreigners to purchase condominiums and apartments in urban areas from RM1 million to RM600,000.

More Malaysians will benefit from increase access to home ownership - Exco

JOHOR BAHRU, Oct 13  -- Several initiatives involving access to home ownership announced in the 2020 Budget two days ago are believed will enable more Malaysians including the Johoreans to finally own a dream home.

Govt won't give citizenship to foreigners just for buying RM600,000 worth of property - PM

Prime Minister Tun Dr Mahathir Mohamad today said the decision to lower the threshold on high rise property prices in urban areas for foreign ownership from RM1 million to RM600,000 was meant to reduce supply overhang of condominiums and apartments.

Lower foreign buying threshold for condos applicable only to existing unsold units - Lim

The move to lower the threshold for foreigners to buy condominiums and apartments in urban areas from RM1 million to RM600,000 is only applicable to existing unsold units, said Finance Minister Lim Guan Eng.

Penang 'The Rise' condominium draws ire among residents

GEORGE TOWN, Oct 12 -- More than half of the residents of The Rise condominium at Jalan SP Chelliah here were dissatisfied with the poor condition of their unit and the facilities.

Lowering threshold to clear unsold properties should not detract from focus on affordable housing -- PAM

KUALA LUMPUR, Oct 12 -- The Malaysian Institute of Architects (PAM) says although lowering the price threshold for foreign buyers to RM 600,000  is a good short-term measure to clear existing unsold properties, it should not detract developers from their recent focus on affordable housing for the B40 and M40 segments.

Specific guidelines needed for relaxation in foreign property ownership - PwC

KUALA LUMPUR, Oct 11 -- Lowering of the threshold for foreign ownership in property from RM1 million to RM600,000 may be appropriate in the short term, but specific guidelines are important in ensuring long-term sustainability and viability, said PwC Malaysia tax leader Jagdev Singh.

HOC extension helps assist more first-time house buyers --Rehda

KUALA LUMPUR, Oct 11 -- The government's decision to extend the Home Ownership Campaign (HOC) 2019 for another six months until Dec 31, 2019 will help assist more first-time house buyers to own a house, the Real Estate and Housing Developers' Association Malaysia (Rehda) said.

2020 Budget: New measures will spur property market, says FIABCI

GEORGE TOWN, Oct 11  -- The International Real Estate Federation (FIABCI) said the Fund for Affordable Homes, Home Ownership Campaign, Rent to Own scheme and Youth Housing scheme are positive measures taken by the federal government to spur the property market.

Government extends youth housing scheme to help own first homes

KUALA LUMPUR, Oct 11 -- The government will extend the Youth Housing Scheme administered by Bank Simpanan Nasional starting Jan 1, 2020 until Dec 31, 2021 to assist youths to own their first homes.