PETALING JAYA: The threshold for foreigners to purchase urban high-rise properties has been reduced from RM1mil to RM600,000 next year. "The campaign deadline has been extended by six months from June 30 to Dec 31 Dec, 2019," he said. Lim said that a Rent To Own (RTO) financing scheme has been set up for those unable to afford the initial 10% deposit and access financing in buying their first home. "Through this scheme, financing of up to RM10bil will be provided by financial institutions with the support from the government via a 30% or RM3bil guarantee. Related stories:Highlights of Budget 2020 proposalsBudget 2020: RM200mil to assist smallholders weather rainy seasonsBudget 2020: Live Updates

Source: The Star October 11, 2019 10:30 UTC