UK buyers are the target for the Malaysian My Second Home (MM2H) programme, it has been revealed. The Malaysian tourism minister, Dr Ng Yen Yen, has claimed that as globalisation makes the world more accessible, more Brits are expected to travel further to expand their property portfolios.
"We know that many Brits buy homes in Spain an France, and now with globalisation and the ease of travelling with low-cost budget airlines people are going further away, seeking more diverse cultures and a more interesting and exciting destination," she explained.
The program gives foreigners who fulfil certain financial and other criteria a multiple-entry visa, allowing them to reside in Malaysia for ten years, Overseas Property Professional reported.
In addition to targeting UK buyers, the minister noted that China and India are two other markets that Malaysia is planning to target.
"We want to attract a certain group of people, who can afford to live well, not necessarily luxuriously but comfortably. But the UK is always a frontrunner. I believe that the more awareness there is the more British will come," she said.