KUCHING: Newly improved guidelines to the Sarawak-Malaysia My Second Home (S-MM2H) programme will attract more participants to Sarawak.
In stating this, Sarawak Housing and Real Estate Developers’ Association (SHEDA) Kuching Branch Chairman Datuk Sim Kiang Chiok said the new guidelines will attract professionals as well as others to be in the said programme.
“The minimum stay has been increased from 15 days to 30 days per year… which is actually good for our local economy as these participants have to spend a longer time in Sarawak,” he said when contacted by the New Sarawak Tribune.
He said Sarawak can expect more potential participants due to the guidelines allowing those aged 40 to 49 to apply under S-MM2H.
“With their requirement to purchase a residential property worth RM600,000 in Kuching and RM500,000 in other cities/towns, we can expect higher demand for houses above RM600,000 under the scheme in Kuching,” he said.
As to whether the participants will opt to rent instead of purchase, he said it is highly likely that those above 50 would be renting instead of purchasing any residential property here.
“Nevertheless, it would still help demand in the secondary property market,” he said.
Recently, Minister of Tourism, Creative Industry, and Performing Arts (MTCP) Datuk Seri Abdul Karim Rahman Hamzah had announced that effective Sept 1, participants of the S-MM2H programme are allowed to work, be employed or involved in active investment and business while participating in the programme.
He said that this is one of the three new regulations for the S-MM2H programme, and it is subject to terms and conditions whereby applicants must be professionals or investors and also subject to approval from the Sarawak government.
