Foreigners - RM2 million minimum property purchase price in Selangor

From 1 September 2014, the minimum property purchase price for foreigners in Selangor is raised to RM2 million

As of 1st September 2014, the Selangor Land Office changed the minimum purchase price regulations for foreigners to RM2 million. Foreigners will now have to pay double the amount (the previous minimum price was RM1 million) to purchase property in the areas mentioned below.

Below are some of the important points from the document together with an English translation.

1. Pekeliling ini bertujuan memaklumkan Pentadbir Tanah Daerah berkenaan keputusan Pihak Berkuasa Negeri mengenai Garis Panduan Perolehan Hartanah oleh Warganegara Asing / Penduduk Tetap / Syarikat Asing di Negeri Selangor.

This circular is intended to notify the Land Administrator District decision of the State Authority Guidelines on the Acquisition of Properties by Foreigners/ PRs/ Foreign Companies in Selangor.

2. Paras harga minima adalah RM2,0000 000.00 bagi hartanah di Zon 1 dan 2 serta RM1,000,000.00 bagi hartanah di Zon 3.

The minimum price is RM2,0000 000.00 for properties in Zone 1 and Zon 2 and RM1,000,000.00 for properties in Zone 3.

ZON 1
i. Petaling District
11. Gombak District
iii. Hulu Langat District
iv. Sepang District
v. Klang District

ZON 2
i. Kuala Selangor District
ii. Kuala Langat District

ZON 3
i. Hulu Selangor District
ii. Sabak Bernam District

3. Pekeliling ini hanya berkuatkuasa pada Perjanjian Jual Beli yang ditandatangani mulai pada tarikh kuatkuasa dan ke atas. Warganegara Asing / Penduduk Tetap / Syarikat Asing yang telah membeii hartanah pada atau sebelum berkuatkuasanya pekeliling ini (berdasarkan tarikh Perjanjian Jual Beli) adalah tidak tertakluk di baWah pekeliiing ini.

This circular is effective only on the sales and purchase agreement signed beginning on the effective date and up. Foreigners/ PRs/ Foreign Corporations who have purchased properties on or before the effective date is not covered under this circular.

3. Hartanah adalah terhad pada jenis Strata termasuk Landed Strata sahaja.

Foreigners can't buy landed properties unless it's in a gated community, which has a Landed Strata title.

4. Program Malaysia My Second Home
i) Pembelian hanya daripada pemaju sahaja melalui penentuan kawasan yang telah dikhaskan berdasarkan kebenaran Pihak Berkuasa Negeri.
ii) Pembeli telah mendapat kelulusan daripada Jabatan lmigresen dan disertakan dengan Visa/Passport dan dicop oleh Malaysia My Second Home.
iii) Pembeli hanya boleh memperoleh satu unit sahaja bagi tujuan rumah kediaman.
iv) Kelulusan ini tidak boleh dipindahmilik / dipindah hak kepada mana-mana pihak.
v) Paras harga adalah mengikut paras harga yang telah ditetapkan oleh Pihak Berkuasa Negeri.

Malaysia My Second Home Program
1. Purchase only from developers through determination of the area that has been designated based on the consent of the State Authority.
2. Purchaser has received approval from the Department of Immigration and accompanied by Visa/Passport and stamped by the Malaysia My Second Home.
3. The buyer may only acquire one unit only for residential purposes.
4. This approval is not transferable.
5. The price is based on the price level set by the State Authority.