ANNOUNCEMENT 27 Apr 2020

In April 2020, the Land Office of Selangor reduced the minimum purchase price threshold for foreigners to acquire a property in several areas in Selangor. 

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 0 neutral
  • 1 liberalising
Inception date: 01 Jan 2020 | Removal date: 31 Dec 2020

FDI: Entry and ownership rule

On 27 April 2020, the Land Office of Selangor issued the Circular No.2/2020 to reduce the minimum purchase price threshold for foreigners to acquire a property in Petaling, Gombak, Hulu Langat, Sepang, Klang, Kuala Selangor, Kuala Langat. The minimum purchase price was reduced from RM 2 million (USD 458,296) to RM 1 million (USD 229,463).  

This new ruling had several requirements to fulfil before a foreigner could acquire property in the State of Selangor, which was as follows:

  • In the case of leasehold properties, there must be a 60-year lease and obtaining State Consent approval; and
  • In the case of unsold units, there must be a certificate of completion and compliance as in 2018. 

The regulation came into force from 1 January - 31 December 2020. 

* RM to USD conversion as on 27 April 2020 - RM 4.36/USD

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