22 May '14, 10pm

#GlobalREBubble Johor bans land sales to foreigners Singapore

The state government of Johor has prohibited locals from selling their land to foreigners. Mentri Besar Datuk Mohamed Khaled Nordin revealed that locals have been selling land to foreigners primarily due to its rising value. Three cases of locals trying to sell agricultural land have been recorded recently. “Major development is taking place, especially after the initiation of the Rapid (Refinery and Petrochemicals Integrated Development) project. There is no doubt that many (foreigners) will be interested to acquire land here,” he said after the ground-breaking ceremony for the construction of affordable homes in Taman Penawar Harmoni this week. While the government will not approve the sale of land to foreigners, the Mentri Besar said that those planning to lease their land should consult the state government. “We are willing to negotiate on this,” he said. Meanwhile, th...

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

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