Important Updates to Take Note if you intend to invest in Malaysian Property.
Johor is planning to impose an additional 2 per cent tariff on property buyers from overseas across all segments of the property market from May 2015.
Penang is mulling over introducing a 3 per cent levy on foreigners purchasing homes next year in 2015.
The intention is similar to Singapore’s, to prevent its own real estate market from bubbling and to placate locals who lament that foreign investors are pushing prices out of their reach. Singaporeans remain the largest foreign property purchasers in Malaysia, followed by the PRCs. For previous updates on the property scene in Malaysia, you can click here.
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