As far as I know, the minimum purchase price is based on the zoning, i.e location of the target property. For residential properties, minimum purchase price is RM2 mil in Zone 1 (District of Petaling, Gombak, Hulu Langat, Sepang, Klang) and Zone 2 (District of Kuala Selangor, Kuala Langat) and minimum purchase price RM1mil in Zone 3 (District of Hulu Selangor, Sabak Bernam). However, purchase of landed residential properties are not allowed. It would be prudent to check the district in which the property is located. There are other criterias which may apply for purchase by a foreign company as well.

The restrictions are applicable to foreigners, PRs and foreign companies. I believe it's the same for individual foreigners and foreigners carrying on a business and buying properties in Malaysia unless there are any special incentives which I'm not aware of. Anyone heard of special incentives for foreigners carrying on business in Malaysia and purchasing properties whereby the minimum purchase price is not applicable?

I've seen land titles for Puchong/Sri Kembangan properties which falls under the district of Petaling and Sepang and hence I believe it falls under Zone 1.