Some Malaysians are now thinking twice about settling in Singapore, in light of the recent dual property ownership measures.
The new rules state that Singaporeans and permanent residents who want to buy an HDB flat must sell their overseas property within six months.
At a showroom of one of Malaysia’s leading property developers SP Setia Group, Channel NewsAsia spoke to some concerned Malaysians who are now on the fence as to where they want to be permanently based.
“Because I’m a Singapore PR, so in order for me to buy a HDB here, I have to sell my property in Malacca, which I’m quite reluctant to do. Singapore private property is quite expensive, that’s why I’ve chosen to invest in Malaysia property,” said Clay Lu.
Source : Channel NewsAsia – 13 Sep 2010