Foreign property buyers welcome in Johor

Forest City Project

ISKANDAR PUTERI - Johor always welcomes foreign buyers, including those from China, to buy residential property in the state, says Mentri Besar Datuk Osman Sapian.

However, this does not mean they will be automatically granted residency, he said at the ground-breaking ceremony of the RM162mil Gerbang Nusajaya Interchange, a project by UEM Sunrise Bhd and Mulpha International Bhd here, on Thursday.

Osman said the state government did not discriminate against or segregate foreign property buyers according to regions or countries of origin.

However, these buyers were still subject to rules and regulations when buying residential property in Iskandar Malaysia.

He pointed out that there were already policies in place specifying that foreigners were only allowed to buy houses priced RM1mil and above.

“There is probably some confusion lately, and we need to clarify that foreigners will not get Malaysian residency when buying property in Johor,” he said when asked to comment on remarks by Prime Minister Tun Dr Mahathir Mohamad that foreigners were barred from buying residential properties at the multibillion-ringgit Forest City project in Gelang Patah here.

Osman said the threshold of RM1mil for foreigners was implemented a few years ago, up from the previous RM750,000 threshold, to protect the interest of local buyers.

Prior to this the threshold was RM500,000, he said, adding that, “In future, we might increase the ceiling price to RM2mil”.

Osman said Singaporeans have been buying houses in Johor, especially within Iskandar Malaysia, for many years now and they did not get Malaysian residency status or citizenships.

“I had a meeting with the Federal Government two days ago and a committee will be set up on the issue of foreign buyers,” he said.

He added that he would be part of the committee to be chaired by Housing and Local Government Minister Zuraida Kamaruddin.

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