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Minimum Threshold For Property Acquisition By Foreign Interests Raised To RM1 Million Per Unit
In states other than the Federal Territory of Kuala Lumpur, Putrajaya and Labuan, the actual enforcement date is subject to the respective state authority, the EPU said in a statement.
The unit said this measure was undertaken by the government to stabilise domestic property prices from excessive speculation and to enable local interests to acquire quality properties valued at less than RM1 million per unit, especially residential units.
The Guideline on the Acquisition of Properties issued by the EPU was first enforced on June 30, 2009 to replace the Foreign Investment Committee Guidelines which have been abolished.
The guidelines are to control property ownership by foreign interests in Malaysia.
One of the conditions under the guidelinea is the minimum threshold for acquisition of residential and commercial units, industrial land and agricultural land by foreigners.
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