bakedbean

Not good news. Presumably MM2Hers in Penang would not be affected by this since Penang State gives different minimum limit to MM2Hers but...... reported in the Star Online today, and various other rags that government is considering doubling the minimum price from RM 500,000 to RM 1 million

Apparently it has been discussed at ministerial level. You can read more here

For those in other parts of the country who have bought at 500K, what happens when you want to sell? Can hardly hike it up to 1 million. So the market for potential buyers would be drastically reduced

Jim Smith

[QUOTE=bakedbean;9997844]Not good news. Presumably MM2Hers in Penang would not be affected by this since Penang State gives different minimum limit to MM2Hers but...... reported in the Star Online today, and various other rags that government is considering doubling the minimum price from RM 500,000 to RM 1 million



Indeed. Not good news if it happens.

Strider24

There are so many unrealistic developers who think they are going to make a killing selling over priced, usually tasteless rubbish to us stupid no brain foreigners. When nobody buys their rubbish they scream to their mates in government that these bloody Foreigners are not playing ball, so they need to be forced to buy the rubbish.

These fools also think that all foreigners want to park their bums in the urban sprawl and totally lose sight of the fact many would rather a more rural life. But foreigners can't buy farmland and there simply are no rural castles available to buy at RM1m.

The winners will be Penang and Sarawak who look like they maybe the only ones affordable and only one of those has rural to speak of. I keep seeing reference to Selangor still having a low RM250k minimum, but emails to the local Selangor land office don't rate a reply...so still don't know if there is any truth in it. I thought it went up to RM500k about 6 months ago. Who knows?

ajw

Out of interest, does anyone know if someone on an employer sponsored visa can buy property here?

Strider24

I did in the old days and I don't think it has changed. I guess you are still subject to minimum purchase price, residential only.

bakedbean

As I understand it, ANY foreigner can buy property here. Do not need a visa. Someone correct me if i am wrong. You don,t need to have MM2H visa

ajw

Thank you both.

stevebenaulim

Why is Penang different??

keyesgood

it looks like this rm1mil , min buy is going through , i was hoping on buying a cheap place in penang in the nexted few years ,


what about if i was married to a malaysian , can we then buy any thing , any price, ???????????

does any one know ??

m.k

perth
o.z

bakedbean

Hehe it is and it isn't.

Been reported all over the place, the last few days, that Lim Guan Eng proposing that on Penang Island (possibly from June/July 2012) foreigners will have to fork out RM 2 million for a landed property and minimum RM 1 million for a condo unit. I also read somewhere (though none of this set in stone yet) that on mainland Penang State the rules would be different. Foreigners buying landed property RM 1 million, and condo units minimum RM 500K.

All of this speculative at the moment, though we all know that there's an election coming up sometime

It doesn't seem to be clear so far whether MM2Hers in Penang will still get a different deal from other foreigners. If anyone hears anything, do post on here, won't ya?

bakedbean

Yes I saw someone saying that on another place. It's so bloody confusing isn't it.

evop

I am skeptical of 1m RM min getting adopted. And if it did it lasting more than a year. Of course I can certainly be wrong. It just seems it would create big economic problems for those will big economic stake in Malaysia (developers wanting to sell property).

It would also greatly harm the desire to make it appear as though Malaysia were trying to attract new talent. But this seems on the back burner anyway. It has been over a year and the new visas designed to attract new talent are still limited to only those having already moved and lived and been under a work visa for 3 full years.

Bluenose1

My wife is from Melaka and although we still live in the UK we are planning to move there in a couple of years. Fortunately, her family owns a number of plots of land and, when we go back later this year, she is going to see if she can get one transferred to her. Then we intend building our own house before we finally move there. I'm sure there will be a lot of pitfalls, hurdles and hoops to go round, through or over, but I will let you know how we get on. One of my brothers-in-law is a builder and I am told we could probably build a decent sized house with swimming pool for around RM 300,000!

keyesgood

hi, blue nose

thks for that, and grt if you could give me any tips in the future ,

mike,

Shenni

Hi I am thinking of buying a property in Malaysia, can someone tell me if the 500,000rm has to be speny on one property or can it be spread over two?