Latest news with #JohorRealEstateandHousingDevelopersAssociation
New Paper
a day ago
- Business
- New Paper
Johor looking to raise levy on property purchases by foreigners
The Johor state government is proposing to raise the levy on property purchases by foreign buyers from 2 per cent to 3 per cent as part of efforts to strengthen land administration and support ongoing system upgrades, said Menteri Besar Onn Hafiz Ghazi. This marks the first proposed revision to the levy since its introduction in 2014 and comes in tandem with a major overhaul of the Johor Land and Mines Office (PTG) to improve efficiency and transparency in land dealings. "The state is looking to raise the approval levy from 2 per cent (minimum RM20,000) to 3 per cent (minimum RM30,000). These adjustments are necessary to support operational costs and reflect the upgraded level of service being offered to the public and investors," Datuk Onn Hafiz said in a Facebook post on June 18. RM20,000 and RM30,000 are equivalent to S$6,000 and S$9,000 respectively. He also revealed that the proposal includes revising the land transfer registration fee for properties valued over RM500,000. Under the proposal, an additional RM500 will be charged for every RM100,000 increment in property value. The current levy and land transfer fees have been in place since 2014 and 2004 respectively, without any revision, he added. "These proposed changes were discussed between PTG, Johor Real Estate and Housing Developers Association and Johor Bar Committee to ensure the adjustments are fair and justifiable," he said. Mr Onn Hafiz, who is Machap assemblyman, said the revisions are part of a broader overhaul initiative within PTG, which is scheduled for completion by July 31 in 2025. THE STAR/ASIA NEWS NETWORK
The Star
2 days ago
- Business
- The Star
Johor looking to raise levy on property purchases by foreigners
JOHOR BARU: The state government is proposing to raise the levy on property purchases by foreign buyers from 2% to 3% as part of efforts to strengthen land administration and support ongoing system upgrades, says Mentri Besar Datuk Onn Hafiz Ghazi ( pic ). This marks the first proposed revision to the levy since its introduction in 2014 and comes in tandem with a major overhaul of the Johor Land and Mines Office (PTG) to improve efficiency and transparency in land dealings. 'The state is looking to raise the approval levy from 2% (minimum RM20,000) to 3% (minimum RM30,000). These adjustments are necessary to support operational costs and reflect the upgraded level of service being offered to the public and investors,' Onn Hafiz said in a Facebook post yesterday. He also revealed that the proposal includes revising the land transfer registration fee for properties valued over RM500,000. Under the proposal, an additional RM500 will be charged for every RM100,000 increment in property value. The current levy and land transfer fees have been in place since 2014 and 2004 respectively, without any revision, he added. 'These proposed changes were discussed between PTG, Johor Real Estate and Housing Developers Association and Johor Bar Committee to ensure the adjustments are fair and justifiable,' he said. Onn Hafiz, who is Machap assemblyman, said the revisions are part of a broader overhaul initiative within PTG, which is scheduled for completion by July 31 this year.
