Nanyang Press Interview: Supporting MM2H to Boost Perak’s Property Market

Published: 3 June 2017

Interviewed by: Sook Yee, Nanyang Press (13 May 2017)

Link to article: Nanyang Press

Ir. Loh Ban Ho, Managing Director of Mansion Builders, shared his views on Malaysia My Second Home (MM2H) program and its potential impact on Perak’s property market.

Q1: Is MM2H good for us?

“We strongly support the MM2H program to market our Perak properties to foreigners. This is part of the foreign investment that can help Perak’s economy. Many retired Westerners or Asians are willing to choose our country to retire due to favorable currency exchange rates and our tropical climate. However, they are only given 3-month tourist visas, requiring them to renew four times a year. MM2H would allow them to retire in Perak with peace of mind and longer-term visas. These retirees do not compete with the local workforce and will enhance our economy rather than jeopardize local property affordability.”

Q2: What are ways to improve MM2H?

“Perak’s state government should actively promote local properties abroad, as our state is recognized as one of the best places to retire in the world. Incentives should include waiving taxes for foreign property buyers, setting up dedicated centres to answer queries, and simplifying visa renewal procedures. Retirees bring their life savings to spend here—they are an economic advantage. We should also encourage them to invest in commercial properties, not just residential.”

Q3: Would you participate if there’s such a scheme?

“Absolutely. If there is a program that promotes Perak properties to foreigners, we would definitely participate and support it wholeheartedly. Malaysia should embrace flexibility and welcome retirees with open arms, as other countries like Thailand are currently outperforming us in attracting retirees.”