Guan Eng: Lower condo purchase threshold for foreigners only applicable to existing, unsold units | Malay Mail

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Guan Eng: Lower condo purchase threshold for foreigners only applicable to existing, unsold units | Malay Mail
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KUALA LUMPUR, Oct 13 — 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. He said the measure announced in the 2020...

Sunday, 13 Oct 2019 03:50 PM MYT

KUALA LUMPUR, Oct 13 — 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. “Existing units that have not been sold are the residential units that do not interest local buyers. Hence the relaxation in the form of lower foreign buying threshold for condominiums and apartments will not deny the rights of local buyers,” he said in a statement today.

“Local buyers who wish to buy, are not being denied their rights; they can buy now and the units will not remain as unsold properties,” he added.

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