Why is Sabah accused of violating rights in tearing down the houses built by the Bajau Laut in Semporna? One NGO explains Kepong MP Lim Lip Eng today suggested a review of a 10-year holding criterion for property purchases to make Malaysia a more attractive retirement destination for foreigners in the “Malaysia My Second Home” residency visa scheme.
“This rigidity makes the scheme less appealing compared to more flexible options available in neighbouring countries like Thailand and Indonesia. He contrasted this new condition to the previous scheme of RM300,000 for those below 50 and RM150,000 for those above, without a mandatory property purchase.
He added that the compulsory property purchases are unlikely to boost Malaysia’s housing market as intended and could leave many units unsold or unrented.titled “Foreign retirees losing interest in Malaysia’s MM2H residency scheme after revamp of rules” to support his assertion.