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 price 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. For a list reputable project developers, please contact the Malaysia Property Incorporated for the updated list:
Malaysia Property Incorporated (MPI)
Unit 6-03A & 6-05, Level 6, Menara UAC, No 12,
Jalan PJU 7/5, Mutiara Damansara,
47800 Petaling Jaya,
Selangor Darul Ehsan.
Monday to Friday : 8.30 am - 5.30 pm (GMT +8.00)
Phone : +603-7724 1878
Fax : +603-7724 1877
Email : firstname.lastname@example.org
Webiste : www.malaysiapropertyinc.com
Also ensure that your lawyer does thorough check with the local land office that you have ownership rights to any property that you are purchasing and that the property you are purchasing is under your personal name; and not of a third person.
Fixed deposit withdrawals for purpose of house purchase is allowable for property bought under the name of the MM2H main applicant only.
Profit made on the sale of property is 5% (Real Property Gains Tax)