Hi guys, I have a question to ask about Malaysia Gov policy :
1. Minimum RM 1.000.000 to own an apartment in Malaysia. does this policy still apply ? as an Indonesia Citizen, is it impossible to purchase an apartment in Johor baharu which price under RM. 1.000.000 ?
2. To own apartment in Malaysia as a foreigner, how many percent is the tax from the unit price ? what are the taxes do we have to pay ?
Yes RM1m except in Malacca I think. Its RM2m in Selangor. Tax? Well you pay local taxes twice a year and that is based on the area the property occupies. The Stamp Duty is quite expensive on purchase. There is a new 6% tax in Johor now as well. 3% capital gains tax on profits when property is sold.
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