26 Jan '14, 11pm

#GlobalREBubble 'RM1 Million Delay Spooks Foreign Buyers' via @SGPropertyGuru

Delays in implementing the new RM1 million minimum price for foreign property buyers in Malaysia may act as a turn off foreign buyers, according to Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector, Malaysia president Lim Lian Hong. Lim believed that the move may be seen by foreign buyers as an unfriendly sign towards them. Moreover, it is also unfair and unhealthy for foreign buyers of Malaysia property since it may affect their confidence in their investments here. “If they put their money here, they don't want to have to worry about what will happen to their investments if there are more changes in the future,” said Lim. Local media revealed that the guideline for the new minimum price for property acquisitions by foreigners may only be implemented in March or May, instead of 1 January as announced in the 2014 Budget...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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