New and Improved MM2H

[HMAN]

Interested to see who will chiong to apply mm2h.

Planning to retire in 5-6 years time. It is always better to have an extra option.

I hope to see 90-180 days visa free travel for Singaporean.
No need to use MM2H .

Don't mind travel to Singapore quarterly.

 

[Perishable]

Looking at the cost of living and stress level in SG versus MY, I'm quite positive of the landed properties in JB.

My take is the capital appreciation will be faster than the forex depreciation as we move closer to 2026.

This new MM2H will catalyse the price movement further.

Malaysia has so much land, sometimes you can drive for many km without seeing a single house.

buying house in Malaysia/johor is double hit from depreciating currency and house. Thread with caution.

 

[testerjp]

Johor property sales set to boom with announcement​

ISKANDAR PUTERI: The move to ease the conditions of the Malaysia My Second Home (MM2H) programme coupled with the rise in the cost of rental in Singapore will help to boost the sale of properties in Johor, says state executive councillor Datuk Mohd Jafni Md Shukor.

The Johor housing and local government committee chairman said that between the first quarter of last year and quarter one of this year, the number of properties being sold in Johor had increased by 17%.


“Our property overhang issue has almost been resolved with the increase in the purchase of properties in the past year.

“Based on the data received, we are seeing a lot of properties being bought in the state, including by Malaysians working in Singapore as well as Singaporeans.

https://www.thestar.com.my/news/nation/2023/10/23/johor-property-sales-set-to-boom-with-announcement

I'm just curious.

From the article.

“In 2021, the previous government reactivated the MM2H with several new conditions after it was suspended for about a year in view of the global Covid-19 pandemic.​

​

Previously, there was no minimum stay requirement for participants who only needed to place RM300,000 in fixed deposits while for those over 50, the amount was RM150,000.​

​

Also introduced is a processing fee of RM5,000 for the principal participant and RM2,500 for each dependent.​

If previously the requirement was so relaxed, why since the programme started in 2002, only a total 40,000 applications have been approved throughout Malaysia.

https://en.wikipedia.org/wiki/Malaysia_My_Second_Home

​

 

[andyhtc]

I'm just curious.

From the article.

“In 2021, the previous government reactivated the MM2H with several new conditions after it was suspended for about a year in view of the global Covid-19 pandemic.​

​

Previously, there was no minimum stay requirement for participants who only needed to place RM300,000 in fixed deposits while for those over 50, the amount was RM150,000.​

​

Also introduced is a processing fee of RM5,000 for the principal participant and RM2,500 for each dependent.​

If previously the requirement was so relaxed, why since the programme started in 2002, only a total 40,000 applications have been approved throughout Malaysia.

https://en.wikipedia.org/wiki/Malaysia_My_Second_Home

​

My guess is more foreigners prefer Thailand.

 

[andyhtc]

Where u intend to apply?

I'm still quite far away from retirement.

I will monitor it first. The criteria will always change.

 

[Loratadine10mg]

Maybe open bank account first?

I'm still quite far away from retirement.

I will monitor it first. The criteria will always change.

 

[andyhtc]

Maybe open bank account first?

I already have RHB and Hong Leong bank accounts in Malaysia

 

[Eliwood]

Sad people do not learn the lesson.

Never never never buy Malaysia property unless for self long term stay, else it is dumping $$$ into the sea ?

-Unstable politics
-Prata flipping laws
-Falling currency in short & long term
-People buy new property & no one want 2nd hand as well as JHK cannot afford.
-Poor Maintenance or 0 maintenance

Many more...

Lol this is unpopular opinion in this echo chamber, especially for those alrdy vested.

 

[Loratadine10mg]

I already have RHB and Hong Leong bank accounts in Malaysia

Must need how much to open account.
Hong Leong and rhb and public bank which one more convenient?

 

[andyhtc]

Looks gd. Feel free to invest where u like with ur money. I have nth against MY.

No issue. Renting will lower the financial risk significantly in the short term if one is retiring in Malaysia. Even if rental goes up in the future, it is still cheap relative to Singapore.

 

[testerjp]

If lets say you and your spouse applied for this.

After staying one term, one has cancer.
Since medical report is required for each renewal, will the spouse with cancer still be eligible for renewal?

Or the retirement plan have to return to reality and the couple return back to Singapore?

 

[Wanderer123]

I'm open to Thailand, Malaysia or China but the problem with Malaysia today is the same as 50 years ago.
They are not reliable and even more unstable than before.

If the purpose is to just find a place to rot, then we can just use the existing 30-day visas.
There isn't a big difference, you can still rot there.
There are some pro and con on how it may turn out, nobody knows until you walk till the end of the path.

I will probably look at what happens five years later, I'll still be below 50yo.
It's better to make a bet with a clear eye.

Singaporeans always have this belief on property prices will only rise due to the framed perception of limited land and foreigner policies in SG, and they apply it to the whole world.
Malaysia is not like Singapore, they have plenty of land and plenty of opportunities to build more buildings.
Just because a landed property is unreachable in SG, people want a yard of their own overseas.
When the day comes u finally owns it, only to realise it's nothing much with other woes you haven't figured out before.

If the key target is really for retirement, the things to consider should not be just on which country allows you in. The location should provide the necessary medical care and amenities to support you when you get old. It is also not good to lock your retirement fund in some overseas properties. Maintaining some liquidity could probably offer you better security.
From what i last heard, at least Thai's medical is cheap and with decent standards.
Medical care in Malaysia, isn't that cheap IMO.

Before 50, I tried living in jb for half a year on macs (now gone), got bored and decided not to buy anything in jb. I have lived in oz before, jb is even more boring than down under. After 50, i dashed to Thailand happily on a 1 yr oa visa (retirement visa), after a year didnt like it, not sure why, feel the thais now super 'gian lui' , didn't have a very good impression, so didn't renew my oa visa (can extend free for another year). Now I am happily zooming to different cities within asia with my no.1 sg passport. 1 year 12 mths, if I go to any country that allows 3 mth visa free, i retire in 4 countries in a year. So far i have been living in temperate zones, loving the idea of quarterly retirement!

 

[testerjp]

Before 50, I tried living in jb for half a year on macs (now gone), got bored and decided not to buy anything in jb. I have lived in oz n nz before, jb is even more boring than down under. After 50, i dashed to Thailand happily on a 1 yr oa visa (retirement visa), after a year didnt like it, not sure why, feel the thais now super 'gian lui' , didn't have a very good impression, so didn't renew my oa visa (can extend free for another year). Now I am happily zooming to different cities within asia with my no.1 sg passport. 1 year 12 mths, if I go to any country that allows 3 mth visa free, i retire in 4 countries in a year. So far i have been living in temperate zones, loving the idea of quarterly retirement!

How old are you? U travel alone?

You have any assets in SG?

 

[JustForFun]

No issue. Renting will lower the financial risk significantly in the short term if one is retiring in Malaysia. Even if rental goes up in the future, it is still cheap relative to Singapore.

Other than financial risk, it eliminated all risks .

Can return back to own country anytime . No stress over any transaction or legality or maintenance headache etc. Will get cheaper and cheaper over time whether is new or rental.

Free easy smart people will go rental. Dumb to tie to such asset ?

When a shares or stocks is fixed falling knife, never go against it. Join in to short the shares or stocks to gain.

 

[kitsura]

Interested to see who will chiong to apply mm2h.

Planning to retire in 5-6 years time. It is always better to have an extra option.

I hope to see 90-180 days visa free travel for Singaporean.
No need to use MM2H .

Don't mind travel to Singapore quarterly.

Just rent in JB, don't let your capital getting stuck.

 

[andyhtc]

Must need how much to open account.
Hong Leong and rhb and public bank which one more convenient?

I don't recall ever seeing a minimum amount in a savings account like in Singapore.

The bank will issue a debit card that functions like an ATM card, and the annual fee is a few RM.

On the cards, it depends on your preferred locality. Of the two, I prefer RHB as the app is more user-friendly. Hong Leong app is a lot more secure though.

 

[andyhtc]

Other than financial risk, it eliminated all risks .

Can return back to own country anytime . No stress over any transaction or legality or maintenance headache etc. Will get cheaper and cheaper over time whether is new or rental.

Free easy smart people will go rental. Dumb to tie to such asset ?

There is a rental increase risk.

I have already raised my rental for my Johor tenant and I will increase it again at the next renewal since rental is climbing up fast.

 

[Loratadine10mg]

I don't recall ever seeing a minimum amount in a savings account like in Singapore.

The bank will issue a debit card that functions like an ATM card, and the annual fee is a few RM.

On the cards, it depends on your preferred locality. Of the two, I prefer RHB as the app is more user-friendly. Hong Leong app is a lot more secure though.

Ok thank you

 

[JustForFun]

There is a rental increase risk.

I have already raised my rental for my Johor tenant and I will increase it again at the next renewal since rental is climbing up fast.

If I am tenant, I will dumb your rental away. Even hotel stay also affordable


Full of options and choices around and increasingly as more buildings and housing up


Check out Agoda, Trivago, Airbnb, Google Map so many put up for rental and price is so sweet

 

[andyhtc]

If I am tenant, I will dumb your rental away. Even hotel stay also affordable

My house nearby has several mega malls, schools, and shops within 2 min drive. My tenant has been with me for several years and won't run.