News: Johor govt lauds RM2m ceiling price
Johor govt lauds RM2m ceiling price
New Straits Times. Published June 05, 2014
JOHOR BARU: The state government has welcomed the address by the Sultan of Johor Sultan Ibrahim Sultan Iskandar proposing the ceiling price for foreign buyers for landed properties in the state to be set at RM2 million.
Johor housing and local government executive committee chairman Datuk Abd Latif Bandi said the proposed ceiling price would enable the state government to control the sale of landed properties to foreigners.
“This, in turn, will protect the interests of local buyers as they will not have to compete with foreigners. I also agree that the ceiling price should be higher in Johor because of its proximity with Singapore.”
He said the ceiling price should be based on the situation in the state.
“In Johor, we have to take into account that the price of land is higher and our proximity to Singapore means the demand for landed properties is also high. Local buyers also prefer to buy landed properties, so we must give priority to them.”
Yesterday, Sultan Ibrahim said the Federal Government’s proposal for the ceiling price of properties for foreign buyers to be set at RM1 million was unsuitable for Johor.