She said each state could look at its own needs and re-examine the proposal made in the Budget speech last week, for the price threshold for foreign buyers to be lowered from RM1 million to RM600,000. .

The lower threshhold was announced by Finance Minister Lim Guan Eng when tabling the 2020 Budget last Friday. He said the lower price would help reduce the glut of condominiums and apartments.

Zuraida, who was here for a local government conference, said today: “I believe if we look at Penang state’s statistics, for example, the state has a different overview of the statistical analysis compared to Johor and Kedah”

She welcomed the Penang state government’s intention to study and review the lower threshold price for foreigners. “I support this move in order to determine whether such a suggestion fits with the Penang government’s situation. This is because the state is more advanced and it may have different requirements and level of achievements,” she said.

State executive councillor for housing and local government Jagdeep Singh Deo said the Executive Council meeting on Friday would decide on the new price limit.