GEORGE TOWN (Bernama): State governments can still set their own property price limit for foreigners based on the current situation in their respective states, says Housing and Local Government Minister Zuraida Kamaruddin. She said the suggestion to lower the price threshold for foreign buyers from RM1mil to RM600,000 announced in Budget 2020, could be re-examined according to the needs of each state. Zuraida also welcomed the Penang government’s intention to study and review the lowering of the threshold price for foreigners to buy condominiums and apartments in urban areas. Earlier, state Local Government Committee chairman Jagdeep Singh Deo said the exco meeting this Friday (Oct 18) would decide on the new price limit. - BernamaRelated stories:PM: Foreigners with RM600,000 homes will not get citizenshipZuraida to hold discussions with Finance Ministry over foreign property ownership issueBudget 2020: Lowering the threshold for foreigners will address property overhang, says PM

Source: The Star October 14, 2019 13:52 UTC