For one, it opens up to foreign owners, at least 3,938 units of condominiums and apartments worth a total of RM4.85bil, figures from the National Property Information Centre (Napic) show. "This means that the reduction in threshold price would cover high-rise condominiums, apartments, serviced apartments, and Soho," he said. Soam said despite the Budget announcement, state authorities still had the power to set the threshold price for foreign buyers of properties since land was a state matter. He noted how some state governments including Selangor had announced that they would review their threshold limits following the Budget announcement. More on the issue:Zuraida to hold discussions with Finance Ministry over foreign property ownership issueDr M: Govt won't give citizenship to foreigners just for buying RM600k worth of property

Source: The Star October 21, 2019 22:52 UTC