KUALA LUMPUR: Iskandar Malaysia is poised to benefit from the revision of the Malaysia My Second Home (MM2H) programme.
RHB Research noted that Iskandar Malaysia is currently seeing a boost in demand, driven by an influx of investments as well as the upcoming completion of the Johor Bahru-Singapore Rapid Transit System (RTS), slated for end-2026.
"The friendlier policy will help to encourage the potential relocation of skilled workers, which has been the government's objective to spur growth in Johor. "This, in turn, should lift demand for properties especially for those located near to the RTS terminal, and the Tuas link," it said in a note.
Under the new MM2H programme, the age requirement was lowered to 30 and above (versus 35 and above previously) and the programme has been extended to dependents aged between 21 and 34 who are not working or married in Malaysia.
Parents or parents-in-law are also eligible as dependants.
Previously, dependents only included spouses, children under 21 and any children with disabilities.
Applicants under the Platinum, Gold and Silver categories are required to have a fixed deposit of RM5 million, RM2 million and RM500,000, with the Platinum tier eligible to apply for permanent residence or PR status after obtaining their pass.
Meanwhile, the Gold and Silver MM2H passes are valid for 15 years and five years.
The firm added that Kuala Lumpur City Centre (KLCC) and Mont Kiara as well as Penang would also benefit from the revised programme as they are preferred locations among foreigners.
It viewed UEM Sunrise Bhd, Sunway Group and E&O Bhd as key beneficiaries under the new MM2H programme.
It reiterated its "Overweight" call on the sector, as government policies, investment flow, infrastructure developments and the US Federal Reserve's signal of a potential rate cut next year are favourable to stimulate demand for property.