Estate and Housing Developers Association is calling on the government to revise the current policy in order to boost real estate sales.
The government enforced the restriction in order to “stabilise domestic prices from excessive speculation to enable local interests to acquire quality properties,” as reported by theChong reassured locals that the revision still provides that only 10 percent of developed properties are made available for sale to foreigners, leaving the majority of units to locals.
Chong added that Johor is a prime location for residential property because of its proximity to Singapore. The government would benefit from Singaporeans purchasing property in Johor and “spend[ing] their money on food, utilities, necessity items and bringing benefits to local economy.”
Source: Real Estate Daily Report (realestatedailyreport.net)
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