Has Malaysia’s Second Home program reduced in price?

A friend asked if Malaysia’s Second Home program has reduced in price, down to 750,000 Malaysian Ringgit? Today, let me explain.

The promotion and publicity of the Second Home program are currently being handled by the Malaysia Tourism Board. Additionally, they will be responsible for consolidating the necessary application documents and submitting them collectively for approval by the Ministry of Home Affairs.

The mention of 750,000 Malaysian Ringgit primarily comes from the targets set by the Malaysian Ministry of Tourism for the Second Home program next year: aiming to attract a minimum of 10,000 to 15,000 applications and approvals, contributing to Malaysia’s revenue of 11.25 billion.

According to the calculation of generating 11.2 billion from 15,000 people, each person would need to contribute approximately 750,000 Malaysian Ringgit. However, if we calculate based on 10,000 people, it will require around 1.12 million Malaysian Ringgit per person.

This is the source of the information about the reduction to 750,000 Malaysian Ringgit (approximately 1.15 million RMB). Therefore, we can only say that a price reduction would be ideal, but whether it will happen and when it might happen remains uncertain at the moment.

It’s worth mentioning that there are actually three components to the Second Home program: one in West Malaysia (Federal), and two in East Malaysia (Sarawak and Sabah). When discussing the price reduction, it pertains to the program in West Malaysia.

As for the two programs in East Malaysia, the eligibility criteria are relatively lower than those in West Malaysia. Of course, the requirements and benefits vary for all three programs.

🌈 Federal Government of West Malaysia

Proof of the main applicant’s monthly income equivalent to 40,000 Malaysian Ringgit (approximately 62,000 RMB) or above;

Possession of (liquid) funds proof: 1.5 million Malaysian Ringgit (approximately 2.33 million RMB) or above;

Fixed deposit in Malaysia: 1 million Malaysian Ringgit (approximately 1.55 million RMB);

Applicant is at least 35 years old.

Reside for a cumulative total of 90 days within one year, and a cumulative total of 450 days within five years.

🌈 (East Malaysia) Sarawak State

✔ Condition：

Fixed deposit: Single person – 150,000 Malaysian Ringgit (approximately 232,000 RMB), Double – 300,000 Malaysian Ringgit (approximately 465,000 RMB);

Monthly income of 8,000 Malaysian Ringgit / Annual income of 96,000 Malaysian Ringgit (approximately 149,000 RMB);

Reside for a cumulative total of 30 days within one year, and a cumulative total of 150 days within five years; (Applicants are not allowed to settle in places other than Sarawak).

Between the ages of 40 and 49, the requirement is to purchase a property worth 600,000 Malaysian Ringgit locally.

🌈(East Malaysia) Sabah State

✔ Condition：

Purchase a local property worth 600,000 Malaysian Ringgit or more (approximately 950,000 RMB)；

Reside for a cumulative total of 30 days within one year, and a cumulative total of 150 days within five years.

Fixed deposit of 200,000 Malaysian Ringgit (approximately 310,000 RMB).

Friends interested in learning more details can contact our customer service.