The Malaysia My Second Home programme just logged its biggest 23 months since the 2024 restructure. On 26 September 2026, Deputy Tourism, Arts and Culture Minister Chiew Choon Man disclosed the official numbers at the 14th MM2H National Workshop: RM 5 billion in property purchases and RM 8.85 billion in total economic value between 1 October 2024 and 31 August 2026, drawn from 7,650 new applications.
For foreign buyers deciding whether to commit to a Malaysian purchase in late 2026, these figures are the clearest signal we've had in years about demand depth, source markets, and where the policy wind is actually blowing. Here's the breakdown — and what it means for the decisions in front of you.
The headline numbers
| Metric | Value | Period |
|---|---|---|
| MM2H-linked property purchases | RM 5.0 billion+ | Oct 2024 – Aug 2026 |
| MM2H fixed deposits lodged | RM 3.82 billion | Oct 2024 – Aug 2026 |
| Total economic value | RM 8.85 billion | Oct 2024 – Aug 2026 |
| New applications received | 7,650 | Oct 2024 – Aug 2026 |
| Approvals as of Aug 2025 | 5,972 | Since Jul 2024 restructure |
| Cumulative applications since mid-2024 | 14,535 | Jul 2024 – Aug 2026 |
Sources: Deputy Minister Chiew Choon Man (26 Sep 2026), Bernama, Free Malaysia Today, New Straits Times, EdgeProp.
Property purchases dominated the economic contribution — more than 56% of the total RM 8.85 billion. Fixed deposits accounted for another 43%. The rest was ancillary spending (education, healthcare, local services).
Who is actually buying — the country split
The nationality mix is where strategic insight lives. For the 7,650 new applications over 23 months:
| Country of origin | Applications | % of total |
|---|---|---|
| China | 3,847 | 50.3% |
| Taiwan | 1,054 | 13.8% |
| Hong Kong | 324 | 4.2% |
| Singapore | 287 | 3.8% |
| United States | 284 | 3.7% |
| All others | ~1,854 | 24.2% |
Three signals jump out:
- Greater China accounts for 68% of all applications (China + Taiwan + Hong Kong combined). Mandarin-first marketing is now the dominant channel for a reason.
- Singapore is a secondary origin, not a primary one. Despite proximity, Singaporean uptake is modest — most Singaporean property buyers in Malaysia use Permanent Resident spouse structures or direct purchase, not MM2H.
- United States is in the top 5 despite the high entry cost, which tells you MM2H is attracting serious capital, not budget retirement migration.
MM2H in 2026 — the real deposit tiers
A note on the structure, because industry chatter sometimes under-reports the restructured 2024/2025 requirements. The three main MM2H tiers in 2026 are:
| Tier | Fixed deposit | Minimum property | Visa duration | Work rights |
|---|---|---|---|---|
| Silver | USD 150,000 | RM 600,000 | 5 years, renewable | No |
| Gold | USD 500,000 | RM 1,000,000 | 15 years, renewable | No |
| Platinum | USD 1,000,000 | RM 2,000,000 | 20 years, renewable | Yes |
A separate Special Economic Zone (SEZ) tier sits alongside these three, with lower deposits (USD 32,000–65,000) tied to SEZ zones like Forest City Pulau 1 and the Johor-Singapore SFZ. The SEZ tier was explicitly called out in the Deputy Minister's statement as one of the four categories driving the 7,650 applications.
Property purchase is mandatory under all three main tiers — if the stat says RM 5B went into property, it's partly because the programme requires it.
What RM 5 billion actually means for you as a buyer
The RM 5B figure isn't just abstract market colour. Four practical implications:
1. Price support in foreigner-friendly segments is real. RM 5B over 23 months — roughly RM 220 million per month — is enough demand to keep foreigner-eligible units in Mont Kiara, KLCC, Mid Valley, Iskandar and Penang Island well-supported through 2026. Not a bubble, but structural underpinning for the RM 1M–RM 3M condo tier that MM2H buyers cluster around.
2. Developers are launching Mandarin-first. With Greater China at 68% of applications, you'll see a growing share of KL and Johor launches that are marketed Mandarin-first, with sales galleries staffed accordingly. If you're a non-Mandarin foreign buyer, work with an advisor who can neutralise this — unit allocations and discount structures often favour buyers who negotiate in Mandarin.
3. MM2H holders still pay the 8% flat stamp duty. This is the question we get most often from newly-approved MM2H holders. The answer is yes. The 1 January 2026 stamp duty increase to a flat 8% on residential property transfers applies to foreigners regardless of MM2H status. Only Malaysian citizens and permanent residents retain the progressive 1–4% scale. MM2H gives you a long-stay visa — it does not change your stamp duty treatment.
For an RM 1.5M condo: a foreign MM2H buyer pays RM 120,000 in stamp duty, versus RM 39,000 for a citizen. See our full breakdown of the 8% foreigner stamp duty for the complete cost stack.
4. The capital is concentrated in 3 states. The Deputy Minister didn't publish a state breakdown, but industry transaction data from EdgeProp, Rahim & Co, and private broker networks consistently shows the three dominant destinations:
- Kuala Lumpur / Selangor — Mont Kiara, Bangsar, KLCC, Petaling Jaya (the biggest share)
- Johor — Iskandar, Johor Bahru, and increasingly Forest City on Pulau 1 under the SFZ incentives
- Penang Island — Tanjung Tokong, Georgetown fringe, Gurney Drive
If you're deciding where to buy, these three are where the market has already voted. Our neighbourhood deep-dives on Mont Kiara vs Bangsar vs KLCC explain the differences between KL's three main foreign-buyer enclaves.
What's coming next — government signalling
Chiew confirmed at the workshop that the MM2H One Stop Centre is planning overseas sales missions to Hong Kong, Japan, and South Korea over the coming period. Japan and South Korea are new target markets — they combined contributed well under 5% of 2024–2026 applications, so the government is explicitly trying to diversify the mix away from China dependency.
For buyers from those markets, expect more promotional events, discounted developer units set aside for mission-sourced buyers, and potentially simplified document processes over 2026–2027. If you're in Tokyo or Seoul considering MM2H, the next 18 months are a buyer-friendly window.
Four decisions this changes right now
If you're within 12 months of a Malaysia property decision, these numbers should shape four choices:
1. Visa pathway. Are you clear on which MM2H tier fits? Silver's USD 150k deposit is a different conversation from Platinum's USD 1M. Compare MM2H vs PVIP vs DE Rantau side-by-side before you lock the application fee.
2. Target state. Each of KL, Selangor, Johor, Penang has a different foreigner minimum property price — RM 1M in KL, RM 2M in Selangor, split thresholds in Johor and Penang. Pick the state before you shortlist units.
3. Title due diligence. Even with MM2H status approved, an MRL (Malay Reserved Land) or unreleased Bumi Lot title will block your purchase. Pull the title search before signing. Our walkthrough on how to read a Malaysian title search covers the four endorsements that kill foreign-buyer deals.
4. State consent timeline. Section 433B state consent typically adds 4–7 months to your transfer timeline. Factor it into your move dates and visa expiry — a mismatch here is the most common reason MM2H purchases stall mid-process.
When to ask us
If you're one of the 7,650 who applied this year, or planning to in the next 12 months, these headline figures only matter if your specific purchase actually clears. We've walked foreign MM2H holders through every stage from title search to state consent to key handover — and the single biggest value add isn't the headline market data, it's the right lawyer, the right building choice, and the right sequence. Reach out when you're within 6 months of a move.
Sources: Deputy Minister Chiew Choon Man statement, 26 September 2026 (14th MM2H National Workshop); Bernama; Free Malaysia Today; New Straits Times; EdgeProp. Tier figures per MM2H One Stop Centre and industry references.
This article is part of the KL Expat Property Hub Foreign Buyer series. See also our guides on the 8% foreigner stamp duty, MM2H vs PVIP vs DE Rantau, foreigner minimum property price by state, Section 433B state consent, reading a Malaysian title search, and Mont Kiara vs Bangsar vs KLCC.