Foreigners now have to pay a minimum of RM1 million for properties in M'sia

Foreigners looking to acquire property in Malaysia would now need to fork out a minimum of RM1 million (S$387,000).

The decision was made by The National Land Council (MTN) and was among the changes included in the acquisition of property guidelines in March.

The guidelines were a topic of discussion during an MTN meeting on Tuesday (Nov 18) according to a statement form the MTN.  

Foreigners were previously required to pay a minimum fee of RM500,000 for acquiring properties in Malaysia. 

Source: New Straits Times Online