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Malaysia’s southern state of Johor calls for property purchase restrictions by foreigners to be halved to bolster real estate sales

The Johor Real Estate and Housing Developers Association (Rehda) is calling on the government to consider reviewing the current threshold of property acquisition by foreigners.According to Johor Rehda chairman Chong Yoon On, the minimum threshold of 1 million ringgit (US$242,000) per unit imposed in 2014 should be reverted to 500,000 ringgit.The measure was introduced by the previous administration to stabilise domestic prices from excessive speculation to enable local interests to acquire… Source link

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Singapore 

Foreigners leaving Singapore no longer need passports stamped from April 22, Singapore News

SINGAPORE – Foreigners leaving Singapore will no longer need to have their passports stamped from next Monday (April 22). The Immigration and Checkpoints Authority (ICA) said on Wednesday that it would “cease the issuance of departure immigration endorsements”, meaning stamps of departure dates on travel documents, from April 22. This is part of ongoing efforts to streamline procedures at the checkpoints and make clearing departure immigration more efficient, it added. Since September 2016, foreign travellers whose fingerprints were enrolled via the BioScreen system upon their arrival into Singapore have been…

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Singapore 

Two foreigners arrested for attempting to enter Singapore illegally after high-speed chase, Singapore News

SINGAPORE – A motorised boat carrying two foreigners was speeding towards the northern coast of Singapore near Punggol, attempting to gain unlawful entry into the country. As the boat neared the shore, a Bangladeshi man, 20, leapt into the waters and swam towards land while the Malaysian boatman, 46, quickly steered the boat into a U-turn back to Malaysian shore. But out of the blue, a Police Coast Guard (PCG) vessel appeared to intercept the boat, firing visual flares and issuing verbal warnings to make it stop. When the boatman…

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Not ‘typical foreigners’, says Raffles chairman as Singapore hospital operator bets big on China market

Patience is key to international companies cracking China’s health care market, the world’s second-largest, Dr. Loo Choon Yong, chairman of Singapore-based Raffles Medical Group, said on Saturday.Singapore’s largest private medical services operator, Raffles is betting on mainland China to drive growth amid muted prospects at home. It opened an 800 million yuan (US$119.09 million) fully owned and run hospital in the southwestern city of Chongqing in January, and expects to open a second one in… Source link

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Vietnam 

More foreigners buying apartments in HCM City – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY – More foreigners are buying apartments and investing in real estate in Việt Nam, especially in HCM City, with most of them coming from mainland China, Japan, Singapore and South Korea. Ngô Quang Phúc, general director of Phú Đông Group, said that since the amended Law on Housing 2014 took effect in 2015 the domestic property market has seen increased interest from foreign buyers. From 2008 to 2014, only 126 foreigners bought property in Việt Nam. In 2014, the Ministry of Construction…

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Vietnam 

Foreigners allowed house ownership in Đà Nẵng – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News ĐÀ NẴNG — The central city’s construction department has listed 17 commercial housing projects that allow foreigners to own homes, including eight in Sơn Trà peninsula and six in the downtown Hải Châu district. The department made an official announcement on Thursday, stating that these projects were built as trading centres, condotel complexes and apartments. It said foreigners will be given ownership certificates when buying apartments or houses at the Lapaz Tower apartment; the Hàn River side 34-storey Aruza, Hoàng Anh Gia Lai Lake…

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Vietnam 

Draft simplifies SOE stake bidding for foreigners – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

A new circular drafted by the State Bank of Việt Nam would reduce punishments for foreign currency exchange violations. – Photo vietnamfinance.vn Viet Nam News The draft decree also added punishments to casino operation violations related to the listing of currency exchanges and the opening and use of accounts in foreign countries without the approval of the central bank. — VNS Source link

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Singapore 

Maximum tenancy period for foreigners renting HDB flats to increase, Singapore News

From next year, HDB owners can rent their flats or bedrooms to non-Malaysian foreigners for up to two years, six months more than currently allowed. The revised maximum tenancy period will apply to applications received from Jan 1, the Housing Board said in a statement yesterday. This revision will give flat owners greater flexibility to secure a longer tenancy period with non-citizen tenants who may have work/immigration passes that are valid for a longer period of two years, HDB added. The minimum rental period for an HDB flat remains at…

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Vietnam 

VN needs to simplify property laws for foreigners – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Việt Nam’s real estate market must solve many difficulties to increase the number of foreigners buying property in Việt Nam, experts said. “To promote foreigners’ trading of real estate products on the local market, Việt Nam should increase the portion of property products available for foreigners in each project,” Nguyễn Hoài An, director of CBRE Việt Nam’s Hà Nội, branch told Việt Nam News. “It is necessary to complete legal documents, circulars, procedures and support for foreigners in buying property products…

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China moves closer to allowing foreigners to control insurance ventures

China will accept applications early next year from foreign insurers seeking to take control of their local joint ventures and is even weighing giving them full ownership earlier than flagged, people with direct knowledge of the matter said. The regulator is expected to publish its final guidelines as soon as the first quarter of 2019 and would begin taking applications from interested foreign insurers soon after that, they said. Britain’s Prudential Plc and Canada’s Sun Life Financial Inc are among insurers who expressed interest in recent months in owning more…

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