KULAI: Johor will hold talks with the Home Ministry to review the conditions set for the Malaysia My Second Home (MM2H) programme, says state housing and local government committee chairman Datuk Mohd Jafni Md Shukor.
Jafni said that he would be bringing up the matter to Home Minister Datuk Seri Saifuddin Nasution Ismail during the latter's visit to Johor next month.
"The programme is under the purview of the Home Ministry. The Home Minister is expected to visit Johor next month and we will bring up this matter to him.
"We hope that the Federal Government could consider reviewing the conditions set for the programme to encourage more foreigners, including investors to purchase luxury homes in Johor," he said.
He said this to reporters when met after handing out aid to some 250 families in conjunction with Chinese New Year at Dewan Raya Putra here.
He added that the existing conditions for the MM2H programme are too strict and could sway away interested buyers from purchasing properties under the programme.
"The relevant parties should study the matter further and relax some of the conditions to attract more people to purchase the properties.
"In Johor, most of our unsold properties are service apartments that are priced above RM500,000.
"Locals are not keen to buy such houses, making it difficult for developers to sell the overhang properties.
"If these properties could be sold through the MM2H programme, it will also help developers in terms of cash flow and will allow them to make more housing projects that are better suited for locals," he said.
In August 2021, the government announced 10 new conditions for those interested in the programme, including RM1.5mil in liquid assets, RM40,000 in monthly offshore income, RM1mil in a Malaysian fixed deposit, and an additional RM50,000 per dependent.
Existing MM2H pass holders only need to comply with two of the 10 new conditions: an increase in the fee pass from RM90 to RM500 per year and the requirement to stay in the country for a minimum of 90 days a year.