MM2H Programme In Malaysia - News Update 19/6/2024

Raymond Lai
Jun 21, 2024
1 min read

Updated: Aug 26

Source: The Star

The property sector has likely entered a new up cycle supported by the revised guidelines for the Malaysia My Second Home (MM2H) programme, which could boost demand for homes in the country.

According to Hong Leong Investment Bank (HLIB) Research, the revised MM2H conditions are expected to renew interest in MM2H and this could positively impact the property sector, especially on the high-end segment.

“We understand that developers and foreign property purchasers alike have been adopting a wait-and-see approach pending the announcement from government on the new MM2H conditions.

“With better clarity on the relaxed conditions, developers now have a better picture and visibility of the market and we could potentially see more launches in the high-end residential segment,” the brokerage explained in its report yesterday.

“Similarly, on the demand end, there is also likely some latent demand as these prospective buyers were waiting for the new MM2H conditions to be announced. We think this development is an overall positive for most developers,” it said.

HLIB Research upgraded its outlook for the property sector to “overweight” from “neutral”, citing the sector had entered a new cycle.

The Tourism, Arts and Culture Ministry last weekend announced the revised guidelines for MM2H guidelines, which were more relaxed than the 2021 version, had been approved by the Cabinet. The relaxed guidelines included lower requirements for fixed deposits, offshore income and liquid assets.