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Johor to set up special zones for foreigners to buy property
In a move to address fears of foreigners snapping up all available property, the state will designate international zones or housing development projects within Iskandar Malaysia.
http://www.thestar.com.my/News/Nati...-special-zones-for-foreigners-to-buy-property
Means what? This is the first step. If this plan goes thought, it means foreigner can only buy in the special zones. What happens to those projects outside special zones that were snapped up by Singaporeans before Iskandar was launched in 2007?
- Johor already imposed min 500K-1mio purchase price for foreigners, so if the property is cheap, the only resale avenue is back to Malaysians.
- If foreigners are restricted to buy in special zones, it hints that it is also easier for them to adopt/consider similar policies in some Australian cities that requires foreign investors to only offload properties back to locals.