In Johor, for instance, Medini Iskandar in Iskandar Malaysia is designated as a special economic zone.
Medini Iskandar has no restrictions on foreign ownership. There is no minimum price threshold for foreign property buyers, and foreign property purchases are exempted from real property gains tax until Dec 31, 2025.
Also given special status is Forest City, the Malaysia-China joint venture development in Iskandar which has been designated a duty free zone. The minimum price threshold for foreign buyers is RM500,000 per strata unit, according to a spokesperson of the project.
Meanwhile, the Straits of Johor Development Corridor 2025 Master Plan showed that Tanjung Bin, Tanjung Pelepas, Nusajaya (now known as Iskandar Puteri), Johor Bahru city centre, Pasir Gudang, Tanjung Piai, Sungai Sekudai and Sungai Tebrau are international zones. In these zones however, the minimum threshold for foreign property purchase is RM2 million for landed residences compared with the RM1 million threshold for landed residences in the rest of the state; and RM1 million for strata property. Hence, it would be wise to check the status of the various projects one is interested in.
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