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State govts can set own property price limit for foreigners

Oct 15, 2019

State governments have been given the freedom to set their own property price limit for foreigners.

The Housing Minister says each state has different circumstances.

Under Budget 2020, the government decided to allow foreigners to purchase condos and apartments in urban areas that cost RM600,000 and above, down from RM1 mil.

The Penang government has said it will study and review the move, while Selangor will do the same. 

Selangor is the state with the highest price threshold for home ownership for foreigners at RM2 mil. 

Meanwhile, amid concerns about how the move will affect locals, Strategic Investment Analyst Ooi Chun Hwa told us it's a double-edged sword. 

He says while lowering the threshold could solve the property overhang problem, it could also boost speculation on mid-range priced properties.

As such, Ooi suggested for the government to set up a guideline to identify genuine buyers:

"For example, only my second home candidates or only certain areas and types of property are open to foreigners under this policy, and this is to curb speculation, as well as protecting domestic buyers’ interest."

In the second quarter of the year, there was almost RM20 bil worth of unsold residential property in Malaysia.

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Health Minister says pneumococcal vaccination programme long overdue but good start

The pneumococcal vaccine might not be made free for all children, despite a RM60 mil allocation for the programme under Budget 2020.

The Health Minister has revealed the allocation is only half of the sum requested, but he believes it's a good start.

However, because of the lower quantum, Datuk Seri Dr Dzulkefly Ahmad said they must now go back to the drawing board to re-strategise on how to maximise coverage. 

Providing pneumococcal vaccination to children is also part of Pakatan Harapan’s GE14 manifesto.

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Richard Huckle stabbed to death in jail

Convicted paedophile Richard Huckle has been stabbed to death in his cell in a UK prison. 

He was serving 22 concurrent life sentences for sexually abusing 200 children between 2006 and 2014, especially in Malaysia.