Zuraida: Decision to reduce property price for foreigners wasn’t made by my ministry

KUALA LUMPUR, Oct 13 — The decision to reduce property purchase prices for foreigners was not one made by the Housing and Local Government, said its minister Zuraida Kamaruddin.

This follows after the government recently announced in its Budget 2020 that foreign buyers can now purchase properties from RM600,000, down from RM1 million, in a bid to reduce property overhang in the country.

“Many people are not clear about it, thinking that it is under the Local Government and Housing Ministry but that policy is not from the ministry.

“It used to be under the Economic Planning Unit but now the announcement is made by the Finance Ministry,” Malaysiakini has quoted Zuraida as saying.

Zuraida said she will discuss the matter with the Finance Ministry if the need arises.

“This is a proposal from the Finance Ministry... I will refer to the Finance Ministry to review and reconsider the matter if there is a necessity,” she said.

Zuraida also added that her ministry is also working on attractive packages under the Malaysia MySecond Home Scheme for foreign buyers to pick up unsold high-end properties.

Today, Finance Minister Lim Guan Eng said the move to lower the threshold for foreigners to buy condominiums and apartments in urban areas from RM1 million to RM600,000 is only applicable to existing unsold units.

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