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

woh with foreigner cannot buy subsale.in selangor.. good luck for pengoreng..

Haha, I'm one of the very few exceptions that doesn't open FB a/c.

Newbie question:
Is there any such/similar ruling for KL props?

Thanks.

Sorry guys ...

Anyone know how to get link out of a tablet [iPad] FB ...
I have tried the long press down with finger, just able to get the copy selector out.
There is nothing like copy link to be selected.

really appreciate if any tablet user can teach how to get link, sure beat copying ...

not that i don't want to quote the source ... sometimes the platform is not helping the process.

m.thestar.com.my/story.aspx?hl=Selangor+imposes+restrictions+on+foreigners+buying+properties+in+some+districts&sec=business&id=%7B5428EE53-97CC-4F89-A235-0D95B529DD3D%7D

m.thestar.com.my/story.aspx?hl=Selangor+imposes+restrictions+on+foreigners+buying+properties+in+some+districts&sec=business&id=%7B5428EE53-97CC-4F89-A235-0D95B529DD3D%7D

those $1mil prop can start bungkus d...

Dear master Kevin Chan,

long hold on the URL, you get the copy selector. select "Copy all".
then in the "reply" form here on LYN, before typing your text, just long click again, the selector will pop up again, this time just "paste all". The selector feature actually keeps your last copied text in memory, so as long as you don't copy anything else in between cut and paste, the URL you copied will remain.

that should do it.

This post has been edited by corleone74: Sep 22 2014, 10:45 AM

Yes, saw the news this morning. Thanks.

Selangor imposes restrictions on foreigners buying properties in some districts


PETALING JAYA: Developers and property agents were thrown into a flux last week over a new set of guidelines on property purchases in Selangor by foreigners, permanent residents (PR) and foreign companies.

Generally, the new guidelines restrict foreigners from buying all types of properties costing less than RM2mil in most of the districts inthestate.

Previously,the cap was set at RM1mil,as announced during last October’s budget. Some property developers are still in the dark over the matter while others are coming to grips with the significance of the move’s effectin an already slowing market.

The measures, outlined in a circular dated Aug 28, were effective from Sept 1 this year. The circular was signed by Department of Lands and Mines Selangor director Datuk Kamarulzaman Jamil.

According to the new guideines, residential, commercial and industrial properties are divided into three zones.

The minimum price for purchases by foreigners is based on the zones.

Foreigners, PR holders and foreign companies are only permitted to buy residential properties that are priced at a minimum RM2mil for Zone 1 and 2, and a minimum threshold of RM1mil for those located in zone 3, according to the circular.
Zone one encompasses the districts of Petaling, Gombak, Hulu Langat, Sepang and Klang.

Zone two are Kuala Selangor and Kuala Langat while the districts under zone three are Hulu Selangor and Sabak Bernam.

Besides increasing the minimum threshold, the land office permits foreigners, PR holders and foreign companies to buy strata and landed strata properties only.

“The new guidelines have raised the threshold price considerably besides putting up new barriers on the type of properties they can buy,” a developer said.

New Selangor guidelines on property purchases by foreigners

In the commercial and industrial sub-segments,they are only permitted to buy propertiespricedRM3mil andabove locatedinallthe three zones.

They are barred from buying properties set aside for bumiputras. As for non-bumiputra units, they can buy not more than 10% of those units.

Agricultural land, Malay reserve land, non-strata landed residentials and auction properties are off limits.

The new guidelines also govern participants of Malaysia My Second Home programme.

They are to buy directly from the developers and not from the secondary market and are eligible to buy one residential unit only per family.

“This means the state of Selangor is going the way of Johor. Land is a state matter. While the Federal Government may propose its policies – unveiled during each budget – the individual states can go along with the measures proposed, or they can propose their own measures,” a source said.

“We saw the state authorities in Johor proposing their own rules with regard to land issues a few months after Budget 2014. We now see Selangor doing the same,” the source added.

The property source said that the Aug 28 circular seemed to be “a preemptive measure” to prevent foreign developers from entering the state in a big way.

[attachmentid=4143110]

This post has been edited by jolokia: Sep 22 2014, 10:50 AM

New game start in property again..foreigner and flipper will aim property at KL, KL property Booming!!

Goodgamed.

economy undergoing correction mode.

http://www.thestar.com.my/Business/Busines...some-districts/

Nice move, finally. Need to control the speculation by foreigners.

There is no url box in the FB apps ... internet version i know. or did i miss is hiding somewhere ?
sorry PC guy trying to go mobile tablet ... bit messy without the trusty mouse.

----

This post has been edited by KOHTT: Sep 22 2014, 11:13 AM

Tomoro leh today oni online..the star online has the news

The circular says "participants of MM2H can.... only buy from developers" ie no subsale.
If the foreigner is not a MM2H holder then how? can buy subsale?

commercail building include commmercial titled soho, sofa, sovo, service apartment, service suites dan lain lain?

Mm2h buy only from drvelopers...wat the heckk

This post has been edited by propertybbb: Sep 22 2014, 01:10 PM

Looks like my newly bought million ringgit condo in KL value gonna have price hike soon 😀

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

The zoning allocation a bit over for a foreigner to buy a house in Selangor. Looks government really want to make it an almost impossible for a foreigner to buy house in Selangor state.

Not impossible just need to buy 2M & above, what is 2M for foreigner ? 800K SGD ? 625K USD ? 480K EUR ? sap sap shui lah for those rich Singaporean, Middle East, Korean, Indonesian, KuaiLoh.

If you are talking about those foreign labour one maybe impossible lah...

I mean it's not currency or profile issue, but the respective price within the district.

If Daerah Petaling or Sepang ( Cyberjaya high end ) then possible loh, what about houses in Kuala Langat, Kuala Selangor and Hulu Langat, not many houses over RM 2mil and summore must be strata title and from developer.

there is almost certaintly no recurring rental income for prop > 2Mil prop in selangor.
malaysia attracts foreign buyer because of it's cheap, period.

Developer need to build bigger sf condo already to let them buy. Take 500psf is average price...developer need ot built 4000sf condo...

This post has been edited by austinchua: Sep 22 2014, 02:29 PM

Easy to solve this problem lah. If I am the expatriate, just buy the house in KL.

Mont Kiara is always their favorite.

please note that Landed Individual Titles are off limits to Foreigners regardless of Value

Even RM2 mln and above its only for Strata Property either Vertical or Horizontal Strata

In other words, for expats who work in PJ area, Mont Kiara is one of the favorite areas offering lowest entry of resident property (<2M property)....

A lot of expats like to stay in MK. Don't know why lah.

i think even local now like to stay there. it's a nice environment

This post has been edited by corleone74: Sep 22 2014, 04:15 PM

Hope this will revert after Selangor gets a new MB. This totally a killer. A lot of people will die because of this sudden ruling.

no more China Dolls in Semenyih.

How is CG going to sell their future launches

This ruling is good in the long run. Hope even KL / Penang/ Johor can implement it.

This post has been edited by cfa28: Sep 22 2014, 04:23 PM

Only affects foreigners why you so worry ? So high % of foreigner purchases previously ?

Because i got a lot of properties value around 1-1.5mil in Selangor bordering KL. Like that how to sell?

That's what I am asking, so high % of foreigner purchasers ?

I don't have stats, but I think they are small %.

What making the matter worse is that Foreigner only allowed max 10% quota on Condos. Most of my Condo already more than 10% foreign ownership.

Oh really ? Which area ?

Just to confirm,
for programme thru MM2H, even federal govt said is RM1mil and above,
but in selangor still have to RM2mil in zone 1, for example?

Land is state matters, right?

Yes, Religion and Land are under the sole discretion of the State Government. That is of course the State introduces some measures which is against the Federal Constitution such as barring certain races from ownership of all Land.

Note in some states, although the Bumi Quota can be as high as 70%, it is still ok, so long as it is not 100% but then again, we already have Malay Reserve Land but to bar non-Malays from total ownership would be challenged in Court.

According to news, YES... land is state matter.

Very lightly a lot of transaction in KL and Putrajaya. Not sure Cyberjaya is part of Wilayah...

According to news, YES... land is state matter.

Very lightly a lot of transaction in KL and Putrajaya. Not sure Cyberjaya is part of Wilayah...

SS2 side - THE HUB, Ken, Tropicana, Kelana Jaya, Sec 16, Sec 6, Ameera

Besides increasing the minimum threshold, the land office permits foreigners, PR holders and foreign companies to buy strata and landed strata properties only.

the above statement apply across all 3 zones or only apply to zone 3, look at the chart alone it is stated in the parentheses beside zone 3.

Federal Territory consist of

Kuala Lumpur
Labuan
Putrajaya

Cyberjaya should be part of Selangor

You're right, Cyberjaya is part of Selangor Under Sepang District.

Cyberjaya is selangor.

But overall, for Country Garden aka diamond city in Semenyih, more than 3/4 is local buyers according to the SA. So, don't expect china doll. Probably some rich semenyih farmers bought when they got rich selling their lands.

Hmm, that's good direction done by govt for Malaysian.
however, will developer increase the price in future in order to cap partially of non-bumi quota to sell to foreigners?
hopefully not affecting locals like us.

Unsure any further announcement will be made in the coming budget 2015 by federal govt.
haha

got 1/4 = 25% China Dolls.

Imagine, seeing them washing their under garments in the car porch, wearing a white blouse, etc.

This is a good policy to teach the speculators an expensive lesson. Because of them, many young generations have to buy inflated residential properties.

Foreigners will stop coming in, at least for next 2 years. It is Johor, now Selangor, who is next, Penang and KL perhaps? Foreigners, especially Singaporeans, will wait and see.

Hopefully, government will make impose other cooler measures to control further speculation. I am awaiting Bank Negara for another 1 or 2 rounds of interest hike.

aiyo. foreign buyers only make up small % in selangor prop. if KL prop different story la. i also never expect some foreigner buying my landed prop in selangor. lol

One condo in kota damansara which I know....a Chinese nationality bought 2 units of RM1.2 mil each recently.

Demand for those above 2 mil to increase and those below to Soften?

Developers: New Selangor property rules will have minimal impact, house buyers feel otherwise

Source: The Star Business

PETALING JAYA: Various stakeholders in the property sector hold divergent views on the new set of guidelines governing property purchases by foreigners in Selangor, with some believing it will prevent them from sweeping up properties and driving up prices.

National House Buyers Association secretary-general Chang Kim Loong applauded the state government’s move to set a minimum purchase price of RM1mil for the Hulu Selangor and Sabak Bernam districts (Zone 3) and RM2mil elsewhere (Zones 1 and 2).

According to an Aug 28 circular, the guidelines, effective Sept 1, apply to foreigners, permanent resident holders and foreign companies.

It added that the land office also only permits these groups to buy strata and landed strata properties.

Chang said this rule would prevent foreigners from grabbing up properties, using their superior exchange rate, which would result in increased prices and depriving Malaysians the opportunity to own such properties.

“Take, for example, the Singapore dollar against the ringgit. It’s peanuts to them,” he told StarBiz, urging other state governments, especially Penang and Johor, to follow Selangor’s footsteps to stop the steep rise in property prices.

Chang said Kuala Lumpur City Hall should also increase the minimum threshold to RM2mil, as RM1mil was considered a basic level entry price of a new property with a Kuala Lumpur address.

Meanwhile, the Real Estate and Housing Developers’ Association Malaysia opined that the new set of guidelines would not have much impact because the total number of foreign buyers here was minimal.

Its vice-president Sivanyanam Sinnathamby said that according to statistics from Malaysian Properties Inc, the number of foreign buyers on a national basis stood at a mere 4% to 7%.

“The number of foreign buyers in Selangor is even smaller. In short, the Selangor state authorities are making rules which affect such a small part of the market,” he said.

He added that foreign buyers were concentrated in Kuala Lumpur, Penang and Iskandar Malaysia, Johor.

Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector president Siders Sittampalam opined that it was an “overall fair move”, but expected little impact.

He said Zone 1, which includes the districts of Petaling and Sepang, was the main attraction for foreigners, but said this number was very small even in these areas.

He said that the policy itself was fair in terms of quantum and structure, as prices had indeed moved up quite a bit in the last several years.

“So, even with the RM3mil threshold for the commercial and industrial sub-segments, it is fair. This move is not something that should shake the market,” he said, adding that it was also fair to limit Malaysia My Second Home participants to one property.

Property consultant Khong & Jaafar group of companies managing director Elvin Fernandez said this was a pre-emptive strike to prevent foreign developers from Johor from entering Selangor because they had been scouting around Kuala Lumpur for land.

“This policy is a deterrent to foreign developers,” he said.

Alzac Viva Sdn Bhd project director Mak Foo Wei agreed, saying this move was to deter foreign Chinese developers in Johor from operating here.

He said the move would also protect the locals should property prices go up further, pointing out that an RM800,000 property might move into a range eligible for foreigners to purchase had the threshold not been moved up to RM2mil.

However, Ken Holdings Bhd group managing director Sam Tan said the Selangor market was very different from Johor’s and questioned the need for the new guidelines.

“There are foreigners who just need a small pad. They don’t need to buy a RM2mil property,” he said.

----------------------------------------------------------------------

I'm a house buyer but I don't feel otherwise. I agree with Rehda.

This post has been edited by Jasoncat: Sep 23 2014, 07:53 AM

Rehda talk again..

Haiz... They are happy because developer like CG from china will be impacted very bad ....

ha ha ha.. Rehda is protecting their rice bowl

But it's true lar, foreign buyers in selangor is small.

haha suddenly interested to know something as will question below

1. Rmxx to Rmxx range... Is consider as middle class earners for yours think?


Thanks ,exited on yours reply ...really curious on these topic ...can't wait


Anyone is welcome to share what you thinking also ......

So anyone from here willing to answer first , how much per month from minimum to maximum, is consider as middle class earner ?

Thanks

This post has been edited by Mrmr: Sep 23 2014, 08:44 AM