A number of people living here under the Malaysia My Second Home programme contacted us to express their unhappiness that they were not considered eligible for the lower capital gains tax since many have settled here under the programme. Since many of them have decided to make their home here, they had hoped to be excluded from legislation primarily aimed at stopping foreign property speculators from artificially inflating property prices by buying and quickly selling properties. They are also concerned about the increase in the minimum price for buying property. Since normally they are retired and do not have children with them, they often have modest expectations in choosing a home and generally are happy with a smaller place. Other than in central KL, prices for smaller apartments in Malaysia are usually well below RM1 million, the government’s newly proposed minimum property price for foreigners.
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