KUALA LUMPUR: The housing and local government ministry has been urged to advise all states to agree to a uniform guideline on foreign investments in residential property in Malaysia.
Rahim & Co Research Sdn Bhd executive chairman Abdul Rahim Rahman pointed out that as it is now, conditions are different from state to state given that land is a state matter.
He said uniformity across the country would encourage foreigners to come to Malaysia under the Malaysia My Second Home (MM2H) programme.
“The problem with our country is that land is a state matter. I think the ministry should advise all states to agree (to a minimum standard),” Rahim told reporters on the sidelines of the ongoing Malaysia Property Market Prospects for 2024 forum here today.
On Dec 15 last year, tourism, arts and culture minister Tiong King Sing announced the introduction of varying entry visas for the MM2H programme based on three tiers, namely silver, gold and platinum.
