Malaysia targets holiday home market
The Malaysian government is hoping foreign nationals looking for a second home will invest in the country’s real estate market, an official told TTN.
“The government has been promoting the ‘Malaysia – your second home concept’ that will allow foreign nationals to settle in the country, provided they satisfy a few basic criteria,” said Datuk Chua Peng Song, deputy president of tourism and culture of Malacca.
Under the programme, he said, suitable applicants would be provided a social visit pass and multiple entry visa from Malaysia’s Department of Immigration. “The offer, which are valid for a 10-year period allows the applicant to enter and exit the country whenever they choose to,” he said.
This is in line with the government’s objective of promoting Malaysia as a leading international tourist destination, whilst stimulating the growth of domestic tourism, he said.
By V Kumar