Penang ups landed property threshold
Kuala Lumpur
FOREIGNERS looking to buy landed property on Penang Island will have to restrict themselves to those priced from RM3 million (S$951,600), the state government said on Thursday in a move to ostensibly safeguard the interests of locals.
State executive councillor for housing Jagdeep Singh Deo announced the threshold hike but noted that the foreign levy would be halved for properties priced at RM1-1.5 million. Such properties would attract a levy of 1.5 per cent from 3 per cent previously.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Amsterdam parking space up for grabs for half-a-million euros
Where innovation and play meet: Singapore Science Park welcomes new ‘mini city’ concept
Singapore top recipient of Q1 cross-border investments in Apac: Knight Frank
Luxury private home rents jump in Q1 amid wider market slump: Huttons Asia
Evictions surge in Arizona with housing shortage and rising prices
China property shares firm after Politburo highlights clearing inventory