Kuala Lumpur, Penang and Johor are among popular the states for expats who are seeking for a second home. Hence, Malaysia My Second Home (MM2H) programme is an initiative by the government in encouraging these foreigners to reside here in Malaysia.
Citizens from China emerged as the top applicants in the government’s Malaysia My Second Home (MM2H) programme, with 7,976 applications, reported The Sun Daily citing Tourism and Culture Minister Datuk Seri Mohamed Nazri Abdul Aziz.
Japan and Bangladesh came in second and third, with 4,127 and 3,399 applications, respectively. Rounding up the top five list are Britain (2,361) and Iran (1,331).
With 31,723 applications approved by the government, the MM2H programme saw applications coming from citizens across 126 countries since its inception until November last year.
In replying to Loke Siew Fook’s (DAP – Seremban) query on the programme’s benefit to the country, Mohamed Nazri said the MM2H programme contributed positively to the economy of Malaysia.
“The estimated contribution to our economy from the MM2H programme in 2016 is RM2.9 billion which includes the collection of visa fee of RM6.85 million, the opening of permanent saving accounts in Malaysia at RM542.55 million and property purchase at RM673.96 million.”
He noted that the programme also improved the country’s position as a tourism destination as it emerged as the world’s 6th best place to retire in International-Living.com’s ranking.
Among residential developments that are the latest destination to go to among expats:
Radin Ghazali, Content Writer at PropertyGuru, edited this story. To contact her about this or other stories email radin@propertyguru.com.my
For more information on new homes, check out PropertyGuru’s New Property Launches and Project Reviews.
