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Malaysia Steps Up Property Tax On Foreigners

Category: Real estate, Posted:28 Jun 2013 | 06:00 am

One of Malaysia's fastest growing property markets is the southern border area of Johor next to Singapore.
The area is being framed by the large Iskandar project which entails large amounts of residential real estate aimed at overseas buyers.
Despite the focus the government is instituting an increase in property taxes for foreign owners.
It's been estimated that over 90% of buyers in the area are Singaporean.
Despite the kick in tax rates, compared to Singapore prices remain bargain basement rates comparatively.
Johor falls into the catchment of what is widely looked at to be Greater Singapore in the decade ahead.

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