People living here under the Malaysia My Second Home programme (and other foreigners) can usually only buy properties priced over
RM250,000 each. In Sarawak the minimum price is RM300,000 and in three areas of Pahang State the minimum price is RM700,000 (Kuantun, Cameron Highlands and Bentong).
The Malaysian government has announced that effective January 2010 the minimum price will be increased to
RM500,000 but due to a negative reaction from the property industry it is not certain this will happen. In September 2009, the State of Selangor lowered their minimum price to RM150,000 which is blow the national minimum guideline. The logic behind having a minimum pricing is to reduce inflationary pressures on homes purchased by average income Malaysians.
MM2H visa holders are eligible to receive loans from local banks subject to meeting their credit criteria. Currently it is difficult to get a loan above the age of 60 and repayments usually have to be completed before the borrower reaches the age of 70.
Futher info , kindly click here..
www.mm2h.com/
I've asked a friend of mine whom is a lawyer in JB. According to her, Jb bar council has yet to announce to follow the new rules which is for foreigners to purchase new residential property from RM500k and above and re-sell residential property from RM700k and above. So, Johor will remain at RM250k and above for new sales and rm350k and above for resell property.
