Minimum price of property for foreigner in Malaysia raised for Penang…

The Penang State Government has given us the latest update to the minimum price of properties by foreigners in Penang as stated below.

Effective 1 July 2012, the minimum price of property purchase by foreigners in Penang is as the following:

1. Stratified properties – RM1mil for Island and Seberang Perai [no limit to quantity]

2. Landed property – RM2mil for Island and RM1mil for Seberang Perai (including landed) [no limit to quantity]

3. FOR MM2H PARTICIPANTS ONLY : residential properties only at RM500,000 minimum price and limited to 2 units only.

Sale of property is only allowed 3 years after signing of S&P agreement. Any stamping of S&P agreement made after 1 July 2012 is subjected to these changes.

For further information on this matter, you may refer to the Department of Land and Mines Penang at their website

Posted by Alex Wong CPA Australia Melbourne University, Australia

In Tune specialises in finance and accounting outsourcing, human resource (HR) outsourcing to SME business owners;that traditionally cannot afford professional services which they now can at a fraction of the cost less the headache; so that they have more time to focus on the business operations that matters to them.

Why hire an executive when you can now get at least one qualified professional with an executive at less than an executive pay?

Tags: , , , ,

No comments yet.

Leave your comment