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I am interested in buying in Johor as I have MM2H visa.
It seems the State Goverment is going to double the minimum purchase price from RM500,000. to RM1,000,000.

If I make a deposit on a property valued at Mr620000 will I be allowed to complete the purchase at this price even if the minimum price increases to RM1,000,000 before final settlement?

William
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1 Answer

David Wong Lai Kwong
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Hi William,
I think the most important question here is whether you can obtain an approval from the State Authority to purchase the said property as a foreigner before the coming in force of the speculated new ruling. Any purchase by foreigners is currently conditional to approval by the State Authority anyhow. The completion of the Sale & Purchase stated in the Agreement is still subject to the said approval, otherwise you will be entitled to a full refund of the deposit paid. The sooner you apply the sooner you will be able to find out whether there is already a change in policy at the State level. You may want to consult a lawyer in JB. Read More
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  • WK
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    Thank you David
    Your advice is much appreciated

    Regards
    William

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