Foreigners Purchase Property in Malaysia

Participants of Malaysia My Second Home Programme are provided with various incentives to make their stay more comfortable and enjoyable in Malaysia.

House Purchase

Please be informed that property purchase is not a pre-requisite for participating in MM2H programme. Any foreigner may purchase any number of residential property in Malaysia, subject to the minimum rates established for foreigners by the different states. They start from RM500,000 per unit for most states, from 1st January 2010. Land is a state matter and it is important to check state laws before making any commitment, as the minimum purchase price is not standardised between states. We advise buying homes which are already issued with certificates of fitness but if you intend to purchase from developers, ensure that it is a reputable company. Also ensure that your lawyer does a thorough check with the local land office that you have ownership rights to any property that you are purchasing. Profit made on the sale of property is 5% (Real Property Gains Tax).

Banks also offer the Malaysia My Second Home (MM2H) Financing package which is available to foreigners who participate in the MM2H programme*. The MM2H Financing package is for completed residential properties with Certificate of Fitness at minimum prices of RM500,000 and offers loan tenures from 5 years to 20 years or up to 70 years of age, whichever is earlier, with a margin of financing of up to 85%. To apply, bring the completed bank application form (available from www.cimbbank.com.my) together with your passport, letter from the Ministry of Tourism certifying participation in the MM2H programme, S&P and income plus employment documents, where applicable, to your nearest Bank branch.

*For more information about MM2H programme visit www.mm2h.gov.my.