Johor to charge foreigners more for buying houses

[CityFarmer]

Base on the minimum entry for foreign property buyers, which is RM 500K, the 4%-5% are RM20K-25K, more than double the present fee.

Johor to charge foreigners more for buying houses

KUALA LUMPUR — Malaysia’s southern state of Johor, which neighbours Singapore, will impose a higher processing fee on foreigners who buy houses as it looks to boost revenues and rein in speculative buying, state news agency Bernama reported today (Oct 8).

Bernama quoted the state executive councillor for housing and local government, Mr Abdul Latiff Bandi, as saying the state government will charge a fee of 4-5 per cent of the property value. Proceeds will go towards welfare projects in Johor.

This compares with the current flat fee of RM10,000 (S$4,000) per property.
...
http://www.todayonline.com/world/asia/ma...uses-johor

[Behappyalways]

Is ringgit going to depreciate or appreciate against Sing dollar.....if it is going to depreciate....then the capital appreciation of the properties would have to go up much higher.....which is not going to be easy.......

[opmi]

Jb properties bought by Singaporeans are mainly on deferred payment scheme. So quality of earnings of Jb developers not the same as Sg developers.