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Johore To Charge Foreigners More For Housing


Picnic06-Biante15
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Yahoo news: Malaysia to charge foreigners more for buying houses in Johor-report

 

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

 

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

 

This compares with the current flat fee of 10,000 ringgit ($3,100) per property.

 

Singaporeans have been buying houses in Johor, especially in Iskandar, which is a 2,200 square km (850 square mile) zone three times the size of Singapore and is just across a narrow strip of water. The strong interest also stems from cheaper property prices and utility bills compared with Singapore.

 

The move also comes ahead of potential new measures by the Malaysian government, such as raising the real property gains tax, in the upcoming budget on Oct. 25 to rein in rising housing prices.

 

Property companies that have exposure to Johor include UEM Sunrise, Mah Sing Group, Tropicana Corp and Hong Kong-listed Country Garden Holdings .

 

($1 = 3.1895 Malaysian ringgit) (Reporting By Yantoultra Ngui; Editing by Chris Gallagher)

 

 

link: http://sg.finance.yahoo.com/news/malaysia-charge-foreigners-more-buying-014549612.html

 

 

Change policies like changing clothing daily .... [sweatdrop]

 

 

 

 

 

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(edited)

Every few months, think of something to eye into our $$$$$$$$$$$$ ..... [sly]

 

 

 

What happen to the increase of toll fee for SG cars which they had suggested... [lipsrsealed]


Took from the report quoted : "($1 = 3.1895 Malaysian ringgit)"

 

Is it real, 1 Sing$ = RM 3.1895 ........... [confused]

 

[hur][hur]

Edited by Picnic06
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wonder when they will roti prata back when they realised that it is not going to work.

 

 

Maybe, not our generations....

 

JB with Peter Lim helping to build a F1 track & investment there... [sweatdrop]

 

 

the $ in the report refer to US$ leh

 

so........... thats explained

 

S$1/- should be hovering around RM2.50.

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Change policies like changing clothing daily .... [sweatdrop]

 

 

 

Dun say ah. In sg, we're even worse wif 7 rounds of CM policy changes creating more uncertainty and topsy turvy for investors. In comparison, johor considered very stable liao.

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Aiyo.

 

This is Malaysia not Singapore. Their policy, not our policy be it good or no good.

 

Singapore's properties also change policies like change clothes Wah.

 

Anyway, the sentence on welfare. Haha. That's the problem. Simi welfare. Haha. To their own pockets

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simi WELFARE ??? .... LMFAO

 

expect a few new Ferrari and Lamborghini with no plate Jxx 1 and Jxx 2 ... huat ah!

 

welfare projects in Johor = their pockets

Edited by Wt_know
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Not too sure how true is this piece of news cause the impact can be quite great...The extra charegs paid by overseas buyers will make them think twice before buying...The impact will go beyond buying to selling as well cause the local are unlikely to pick these premium property so likely buyers of any resale property will likely be another overseas buyer. More often then not, these are probably "Say Say" to keep the local happy as property price is on an incereasing trend.

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let's see how la ...

 

1. as we all know, johor ministar can u-turn anytime even without u-turn sign ... lol

 

2. sporean is rich ... anything below RM$1.5M is shout sibei cheap ar ... less than a 4-room HDB

 

Not too sure how true is this piece of news cause the impact can be quite great...The extra charegs paid by overseas buyers will make them think twice before buying...The impact will go beyond buying to selling as well cause the local are unlikely to pick these premium property so likely buyers of any resale property will likely be another overseas buyer. More often then not, these are probably "Say Say" to keep the local happy as property price is on an incereasing trend.

Edited by Wt_know
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