Tuesday, August 20, 2019

People in protest-hit Hong Kong eye Malaysia's second-home program

Malaysia's “Malaysia My Second Home” (MM2H) Programme, a home-ownership programme designed to attract wealthy foreigners to live in Malaysia is seeing an increase of applications from Hong Kong residents. 251 applications have been received this year compared to 193 approved last year.

Kuala Lumpur city skyline. (REUTERS/Lai Seng Sin)

Real estate agents expect Malaysia and Thailand to benefit the most from some Hong Kong residents’ frustration over the second bout of lengthy demonstrations in five years in the former British colony, which returned to Chinese rule in 1997.

“The push factor from Hong Kong will definitely make Malaysia one of the best alternatives for a new location to reside,” said Sharifah Ikhlas Aljaffree, the director of the program run by Malaysia’s tourism ministry.

“Our strength lies not only in our nation’s friendliness, affordable cost of living and high quality of life (healthcare included) but also the stability of our economy and politics plus our developed infrastructure,” she told Reuters.

Read more... People in protest-hit Hong Kong eye Malaysia's second-home program

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