Second home

Not sure if you mean you want to take part in the Malaysia my Second Home programme or just buy property? If you need to know about MM2H, you can see the eligibility and financial and other requirements here under "Apply Now":

MM2H - 10 year social visit pass (no eligibility to work)

It depends where you want to live.  First thing is to decide your budget and which locations you like. It is most expensive in KL City and gets less expensive the further away, apart from some expat areas which are also expensive.

A condomium could possibly be the answer, as it has facilities and security. Monthly charges have to be paid - everyone shares the cost based on the sq ft of the property.

It is more or less true to say that the  RM 1 million minimum property price for foreigners applies, unless the purchaser is on the MM2H programme. You would need to ask an agent about the details. A real estate agent can advise you on the purchase process, which is very slow, especially if you are getting a mortgage.  Foreigners need permission from the local authority to buy property and this phase takes about 3 months.

The taxes and fees to buy a property are about 7% of purchase price.  Capital gains tax applies always to foreign owers and from year 7 onwards after purchase it is 3%.

If you need a holiday home, then perhaps the Bukit Bintang or Mont Kiara or Damansara, Hartamas or Sunway/Blue Water areas may be of interest.

If you need schooling, then it all depends on which international school you want to send your children to, where it would be most convenient to live. Foreigners have to send their children to fee-paying schools as they are not admitted to local schools.

Thank you very much

There is some conflicting information about minimum property purchase prices at the moment, which needs to be checked with an agent. I dont think I made that quite clear before. What is not clear is whether these lower prices apply only to MM2H participants.

http://www.mm2h.gov.my/pdf/minimum%20pr … operty.pdf

Minimum RM 1,000,000
TERENGGANU
JOHOR
PAHANG
W.P KUALA LUMPUR
NEGERI SEMBILAN
W.P PUTRAJAYA

Minimum RM 500,000
PERLIS
SABAH
SELANGOR
KELANTAN

MELAKA
CondoStrata
500,000
Landed
1,000,000

PULAU PINANG
500,000 (2 Units)

PERAK
350,000

SARAWAK
300,000

KEDAH
Tba

That is what i don't understand till now . appreciate Gravitas

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So is there a minimum price ceiling for the Penang area?