Condos the preferred choice - My (MM2H) Sdn Bhd

Announcement

Discontinuation of The Reduction Of Fixed Deposit Placement Based On Property Purchase And MM2H Approval By Government Pension
Kindly be informed that MM2H Centre has discontinued the reduction of Fixed Deposit placement based on property purchase worth RM1 million and above in Malaysia. Also discontinued is the MM2H...

Condos the preferred choice

Monday, 26 January 2009 20:10

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MOST foreigners who make Malaysia their second home go for condominiums. Then come bungalows, semi-detached homes, apartments and link houses.

Condominiums are the most sought after by Malaysia My Second Homers (MM2H) because they are easy to maintain, compact, secure and located in strategic areas close to public transport such as the light rail transit.

Figures provided by the MM2H secretariat show that from 2004 to last year MM2H participants spent RM427.4 million buying property.

The bulk of the money, RM249.54 million, was spent on condominiums, followed by bungalows and semi-detached houses (RM131.841 million), apartments (RM28.36 million) and link houses (RM17.2 million).

A total of 473 properties were purchased by participants in the MM2H programme in the last five years.

Last year alone, they bought 211 condominium units for a cumulative sum of RM184.1 million. In 2004, they bought only six, worth RM1.87 million.

Last year was a bumper year for MM2H property sales, with 326 properties of all sorts purchased for RM303.7 million. In 2004, MM2H participants bought only 15 properties worth a total of RM4.97 million.

Source: New Straits Times

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