MM2H Programme In Malaysia - News Update 19/6/2024
- Raymond Lai
- Jun 21, 2024
- 1 min read
Updated: Feb 26
Source: The Star
The property sector appears to have entered a new growth phase, aided by the updated guidelines for the Malaysia My Second Home (MM2H) programme, which may increase demand for homes in the country.
Hong Leong Investment Bank (HLIB) Research suggests that the revised MM2H conditions are anticipated to reignite interest in the programme, potentially benefiting the property sector, particularly the high-end market.
“It seems that both developers and foreign property buyers have been adopting a cautious approach, awaiting the government's announcement on the new MM2H conditions.
“With clearer information on the relaxed conditions, developers now have a better understanding of the market, which could lead to more high-end residential launches,” the brokerage noted in its report yesterday.
“Likewise, on the demand side, there is likely some pent-up demand as potential buyers were waiting for the new MM2H conditions to be revealed. We believe this development is generally positive for most developers,” it added.
HLIB Research has upgraded its property sector outlook to “overweight” from “neutral,” citing the sector's entry into a new cycle.
Last weekend, the Tourism, Arts and Culture Ministry announced that the Cabinet had approved the revised MM2H guidelines, which are more lenient than the 2021 version. The relaxed guidelines include reduced requirements for fixed deposits, offshore income, and liquid assets.
More coverage on MM2H - New three-tier category for MM2H here to stay (The Star Newspaper)
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