4,291 European Applicants Approved for Malaysia My Second Home

As reported by New Straits Times, 4,291 applications from Europe have been approved for Malaysia My Second Home (MM2H). MM2H is a scheme started by the Malaysia Tourism Authority and the Immigration Department of Malaysia, to motivate foreigners to live in Malaysia for a period of 10 years. The applicants must take a screening procedure to meet the requirement. For example, they must not have criminal records, and are financially stable. It was reported that since its launch in 2002 up to August 2017, the MM2H programme has granted around 36,000 visas.

Below are 3 residential properties which are a good fit for Europeans MM2H visa holders to stay or even invest in. Let’s jump in.

The Arcuz

Positioned at Kelana Jaya, The Arcuz is a leasehold serviced apartment containing 685 units spread out throughout 47 storeys. This residential property is projected to be completed in 2023 and is built by the Exsim Group. The Exsim Group’s approach to development is to deliver focus to nature and the company’s motto is ‘New Age Ingenuity’. The Arcuz is a modern-day contemporary service residency that aims to provide its residency a relaxed, luxurious lifestyle in the midst of busy city life. It is surrounded by lavish plants, giving off a serene atmosphere. This Malaysia property is well maintained and has great facilities. The Arcuz has one of the best access to significant roadways and facilities. The Arcuz is an ideal consideration for European MM2H visa holders, little families, individuals, expatriates, along with anyone who wants to invest in the real estate industry.

Millerz Square

Millerz Square is a serviced residence situated in Old Klang Road (Jalan Klang Lama). It is nearby Mid Valley Megamall, one of the most popular shopping destinations in the world. The property is smartly located on the borders of the Kuala Lumpur city. It is a mixed real estate project that makes it possible for occupants to live a more dynamic life. The development incorporates homes, offices and retails. Millerz Square includes a multi-story office complex with 4 serviced residential developments, an office complex, retails and a basement car park. There will be an overall of 1,633 serviced residence units and 336 workplace units. Millerz Square will provide quick access to the new Pantai Highway (NPE) linking Bangsar and Kuala Lumpur. Other cities like Subang Jaya and Petaling Jaya can be reached by means of the Federal Highway, KESAS Highway, and the NPE. These main roads are linked and near Millerz Square.

Sunway Serene

Situated at Kelana Jaya, Sunway Serene is built by Sunway Group. The trendy high rise serviced apartment is being built with 2 blocks comprising 46-story buildings with a total range of 894 household units in its occupied land size of 17 acres. This low density residing place guarantees peacefulness and calmness for its residents. These superior household units are being developed with the size varying from 892 sq. ft. as much as 1,788 square feet, which provides a huge residing place. The residential units have indeed been developed with the concept varying from 2 bedrooms and 2 bathrooms up to 5 bedroom and 4 bathrooms in its built up area. The units are having the selection of furnished and semi-furnished inside. A minimum of 1 car park has been allocated for all Sunway Serene units. The price of the units range from RM732,000 onwards, which makes this development available and affordable to most Europeans and MM2H visa holders. This extravagant developed serviced residence is projected to finalize by the year of 2022.

Summary

According to Malaysia well-known real estate platform PropertyLand.my, European MM2H applicants can buy a residential property in Malaysia provided they fulfil some criteria. In most cases, they can buy a residence over RM1million, depending on which state you stay.  MM2H visa is not a requirement to own a house in Malaysia. You can easily apply for a mortgage in Malaysia. The bank will typically want you to repay the loan before you reach the age of 65. All house buyers are required to get approval from the state government. This process can take around 6 months.