Johor, whose Iskandar region has been a hot favourite with Singaporean investors, plans to impose a tax of 4 to 5 per cent on foreigners who buy property in the state to curb speculative fervour, but analysts say demand from Singapore has already been slowing in recent months amid an increasingly uncertain external environment. Mr Ku Swee Yong, Chief Executive Officer of Singapore-based consultancy...
Johor Property
Plans to raise property tax rates for foreign home buyers in Johor at the end of the year appear not to deter Singaporeans from buying units at the Afiniti Residences in Medini Iskandar Malaysia. It is a joint venture between Khazanah Nasional and Temasek Holdings. Singaporeans made up 25 percent of the buyers. All 147 units were snapped up during Saturday's launch. Malaysians accounted for 72...
Plans to raise taxes on properties owned by foreigners in Johor are not likely to affect demand from Singaporean investors. Industry players said that is because current tax levels are relatively low, and property tax makes up a very small component of a home owner's total cost. Property tax rates are set to increase for foreign home buyers in Johor at the end of the year. On Sunday, local...
Malaysia: Johor state will review procedures and conditions for foreigners to own houses due to spiralling house prices in the state, especially in Iskandar Malaysia. Bernama news agency quoted Local Government, Housing, Arts, Culture and Heritage Committee chairman Ahmad Zahri Jamil as saying that the state Economic Planning Unit (UPEN) was studying ways to tighten the rules on foreign ownership. He...