Heard that the local authority has set the places in Selangor into different zones, whereby the foreigners are only allowed to buy property with the price of RM 2 mil n above. Can anyone confirmed?

Heard about it too in other thread but couldn't get the ruling / circular to confirm it.

Wam bam ...

::: SELANGOR STATE NEW GUIDELINES FOR FOREIGN PURCHASERS EFFECTIVE 1 SEPTEMBER 2014 :::
1. This new guideline shall apply to all Sale & Purchase Agreement which are dated after 1 September 2014.
2. Foreign Purchasers refer to any purchase made by non-Malaysian, PR Holders and Foreign Companies.
3. The properties in Selangor shall be categorised into three (3) zones, as the following:
ZONE 1
- Daerah Petaling
- Daerah Gombak
- Daerah Hulu Langat
- Daerah Sepang
- Daerah Klang
ZONE 2:
- Daerah Kuala Selangor
- Daerah Kuala Langat
ZONE 3:
- Daerah Hulu Selangor
- Daerah Sabak Bernam
4. No more than 10% of Non-Bumiputera units can be sold to Foreigner.
5. Foreigner is NOT ALLOWED to purchase the following:
- Landed/Non-Strata Residential-Titled Buildings
- Property by public auction
- Land categorised as Agricultural Land and Malay Reserved Land
6. For Strata and Landed Strata Residential Building:
- Minimum purchase price of RM2 million for properties located in Zone 1 and Zone 2.
- Minimum purchase price of RM1 million for properties located in Zone 3.
7. For all Commercial Building:
- Minimum purchase price of RM3 million for properties located in Zone 1, 2 and 3.
8. For all Industrial Building:
- Minimum purchase price of RM3 million for properties located in Zone 1, 2 and 3.
- The acquirer of industrial buildings require a requisite license from the Ministry of International Trade & Industry (MITI) and follow all other current regulations.
9. Acquisition of Property by a Foreigner under Malaysia My Second Home (MM2H) Programme are as follows:
- Foreigner must only purchase directly from a Developer in accordance with the respective zoning requirements.
- The minimum purchase price must be in accordance to the respective zonings.
- Foreigner is only entitled to One (1) Residential unit.
- The approval granted is not Transferrable. However, the State shall consider transfer of properties by way of love and affection between close family and foreign interest named as beneficiaries in a will.
- The Foreigner must obtain the prior approval from Immigration Department together with the endorsed Visa/Passport for the MM2H Programme.

Bro Kevin, may I know is there an url link to the access of this new ruling?

This post has been edited by Jasoncat: Sep 21 2014, 10:53 PM

another recent property speculation cooling measures by the Government

Not a good news for high end prop esp in Selangor state now.

major news for foreign investors. cyberjaya is district of sepang, right? so foreigner can't buy landed individual titled, and only above 2M for condo and landed strata.
FT (KL and putrajaya address) is not affected, i guess? not yet, anyway.
note: i couldn't find the official news link

This post has been edited by corleone74: Sep 21 2014, 10:22 PM

I think foreigner still can buy a property worth 500k+ in selangor except landed strata title...

Individual Leasehold , Freehold , strata Condo title can buy...

pls comment if otherwise

Is it consider a good news or not too good?

nope, not from what i read in the earlier post. it says "Strata and landed strata" must be > 2M for zone 1.
strata = condo, landed strata = those G&G similar to DPC. individual titled, foreigner banned from buying. yes, the word is "banned".

Bangsar is in KL, right? damansara cannot.

Please give Source and Credit when quoting from PTLM.

depends on who it affects. if those looking for <1M property, no affect.
for foreigners looking to buy in damansara, bad news.
for flippers intending to sell their 1M+ prop to foreigner , bad news.
for rental landlord who target foreigner, good news.

Bro pls insert quote and link from ur source.

The Circular sent to us is the source. Check with your lawyers.

Bro, as far as you know, does PLTM have the link to the official news?

Bro, mind to pm me the circular?

bro cat, ptlm facebook lah.
wah major impact to those goreng million dollar house think to sell to foreigner

yey ! i am very happpyyy