By Farah Wahida:
The government has no plans to raise the RM500,000 minimum property price for foreigners, according to Housing and Local Government Minister Datuk Seri Chor Chee Heung.
While the ministry had considered increasing the minimum price, it discovered that foreign buyers accounted for less than 10 percent of the overall transactions, with Singaporeans making up about five percent.
Nonetheless, “the government may review the ceiling price in future,” he noted, adding that the base price is a bit low considering the present circumstances.
Meanwhile, Malaysia is quickly becoming South East Asia’s education hub, attracting many parents from the region, especially in China, to buy houses in the country for their children, said Chor.
However, “property buyers should see the properties personally instead of making their decision solely on online information,” he told the media after launching a new property portal called Malaysia.SouFun.com.
“We’ve received many reports about false promises and advertisements for online purchases of other products.”
Hence, buyers are advised to visit Malaysia and view the properties to make sure that everything is alright. Moreover, developers can also set-up tours for buyers to view their properties, he added.
The government has no plans to raise the RM500,000 minimum property price for foreigners, according to Housing and Local Government Minister Datuk Seri Chor Chee Heung.
While the ministry had considered increasing the minimum price, it discovered that foreign buyers accounted for less than 10 percent of the overall transactions, with Singaporeans making up about five percent.
Nonetheless, “the government may review the ceiling price in future,” he noted, adding that the base price is a bit low considering the present circumstances.
Meanwhile, Malaysia is quickly becoming South East Asia’s education hub, attracting many parents from the region, especially in China, to buy houses in the country for their children, said Chor.
However, “property buyers should see the properties personally instead of making their decision solely on online information,” he told the media after launching a new property portal called Malaysia.SouFun.com.
“We’ve received many reports about false promises and advertisements for online purchases of other products.”
Hence, buyers are advised to visit Malaysia and view the properties to make sure that everything is alright. Moreover, developers can also set-up tours for buyers to view their properties, he added.
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