4 Sept 2018
MALAYSIA: Would-be Overseas Buyers Banned from Johor Luxury Apartment Purchases
In a move that has rocked property developers across the country, the government has issued a ban on non-Malaysians purchasing residential units in Forest City, a luxury new build FDI-backed complex in Johor, the country’s fifth largest state. As the ban is widely seen as part of a bid to rein in spiralling property prices, there is growing concern that it will be extended to other prestige developments. In a related move, government sources have also emphasised that any overseas purchaser buying property in the country will not aromatically be granted right of residence.