ISKANDAR PUTERI, Aug 30 — The state government always welcomes foreigners to buy property in the state, said Menteri Besar Datuk Osman Sapian.

He said however, the foreigners were subjected to certain conditions and regulations including they could only buy residential property priced at RM1 million or above.

Osman also stressed that there was no automatic granting of residency to foreigners who purchased property in the state.

"In future, we might increase the prices to RM2 million to protect the interest of local buyers.

"The state government will continue to monitor this matter from time to time,” he told reporters after officiating the ground-breaking ceremony of the RM162 million Gerbang Nusajaya elevated interchange, a project by UEM Sunrise Berhad, here today.

Prime Minister Tun Dr Mahathir Mohamad recently said that foreigners would not be allowed to buy residence units in the US$100 billion (RM410 billion) Forest City project here. — Bernama