Lower Housing Minimum For MM2H?

Yes I heard about this. Most of my properties in KL were bought when the minimum limit was either at RM250k or RM500k even though I did sometimes buy for over a million. This decision is sure to boost the market.

And unless the rules have changed, foreigners do not need to have MM2H to buy properties in Malaysia. I bought some of mine as a tourist before I ever applied for MM2H.

Not exclusively for MM2H...it applies to foreigners not on MM2H as well as those on MM2H.

In most areas popular with MM2H recipients the floor for MM2H will be minimally reduced if at all. Kelantan, Sabah and Penang already have floors of RM500,000 for MM2H, while  Malacca has that for strata titles.  Kedah has no minimum for MM2H, Sarawak it's RM300,000 and Perak is at RM350,000.

So it will mainly impact those buying in KL, Selangor, Negeri Sembilan and Johor (though I think parts of Johor are at RM500,000). Previously those were RM1-2 million...so having available condos drop to RM600,000 may be helpful.


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Then again other foreigners may snatch them up. I think that's the fear...that substantial purchases will be made by foreign speculators. That may assist the contractors in selling they condos, but does it "fill them up"?  Unless mandatory tenancy rules are established,  then you may just aggravate the situation. Many cities are filled with vacant apartments, while those on the market are too expensive for locals to afford, so you end up having people living three per room, or in cars, on the streets, or commuting long distances.

Right, I guess that was my question:  would this policy change then transfer fully to the MM2H program?  Wouldn't it make more sense for the government to focus such a reduction to MM2H exclusively to really promote the program?  Frankly, there are too many absent foreign owners, which is the problem.  When I was there in May, I had an entire condo complex practically to myself.

Shill88 wrote:

Yes I heard about this. Most of my properties in KL were bought when the minimum limit was either at RM250k or RM500k even though I did sometimes buy for over a million. This decision is sure to boost the market.

And unless the rules have changed, foreigners do not need to have MM2H to buy properties in Malaysia. I bought some of mine as a tourist before I ever applied for MM2H.

Hi Shill88,

I see your love of the number 8 and real estate.  In San Francisco recently, there was a property (address is: 1818 8th Ave.) sold for US $600K over asking.  It wasn't necessarily the amount but the fact that there was some fire damage (not lucky?) yet still the crazy overbidding (more to it, awesome view in the back).  Clearly, chinese buyer or I would at least bet my lunch on it....

Anyways,  sounds like you dabble quite a bit in RE investing in Malaysia.  Have you bought any landed properties, like SFH or some land and built your dream home?  That is my preference as opposed to buying a condo.  Yes, more upkeep, but my inlaws are there in Malaysia/Singapore and the goal is to transfer the property to our future generations.  I would love a piece of land on the coast where I can have a boat to occupy my time when I am over there.  Any suggestions on areas?

Well I lived in KL for 12 years, and then got a bit bored with it, plus the thought of paying to put two kids through International school out of my own pocket made me decide to move to Indonesia. But absolutely in Malaysia and Singapore I would always opt for a house number or floor number so include an eight and definitely not a number 4., even though it is common to skip 4th floors in Malaysia and call then Floor 3A.

I never bought landed property although I did view quite a few. The reason for me is that I wanted to invest and the rental income from landed property is often lower than condominium rentals, plus landed property is more expensive to buy. So my aim was always to just buy condos. However, here in Indonesia when I currently live I only buy landed property and would not dream of buying condos. A great thing about renting out in Indonesia is that the tenant pays in advance for the length of the contract.

But in Indonesia I have sort of built my dream home. We bought two houses side by side, one was renovated and currently undergoing a second renovation to split the house into different rentable units, and our own home which we had demolished the original old house, used an architect from Bali, and then got our workers to build our house.

I think for building a house  or buying a landed property on the coast in Malaysia then you can get better ideas from other regulars here. I would guess Penang or Port Dickson or Melaka, perhaps Mersing or further up the east coast or even Langkawi. I am not so familiar so don't really want to make any serious suggestions. I am even sure they have houses with private boat docks in Malaysia.

Well, what to do?????

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