Your next home could be in Malaysia. A large number of foreigners move to or retire in Malaysia through Malaysia My Second Home (MM2H). What do you do with your disposable income? Well, for those of you who love traveling and think of keeping the price factor down a bit as well as make a good investment, you may not have to look too far.

Traveling abroad is these days akin to visiting your second home. In the last two years, around 500 Indians, a number of whom are said to be agriculturalists from Chandigarh and the northern region, have registered themselves for the ‘Malaysia my second home’ (MM2H) pursuit that is being sponsored by the Malaysian government.

With MM2H scheme, the Malaysian government allows tourists to formulate into the country’s property Invetsment Market. Corporeal’s smooth, virtuous pick a homely (either magnetism the emotions of the corner or an island), pick your price (upwards of Rs 18 lakh) and voila! You have a central for yourself. Absorbing, for the prevailing property prices fame Mumbai, Delhi, Bangalore, Kolkata and Chennai won’t fetch you a decent familiar for as low as Rs 20 lakh.

The MM2H scheme forbids individuals to lease their property or conduct any form of business from that location. But the attractiveness is the possibility of capital appreciation and the fact that you can live in your own home when you are holidaying in Malaysia. According to director of Tourism Malaysia,”This tourism venture (MM2H) has been a huge success. The most number of people who have come and set home in Malaysia are the Bangladeshies, Chinese, certain parts of Europe and the Middle East. The tourism industry is the second largest contributor to the country’s economy.

Looking at the number of Indian tourists that visit Malaysia – 225,000 tourists in 2005, 279,000 tourists in 2006 and a projected 400,000 in 2007 – the Malaysian Tourism board is all upbeat about the response that is likely to come its way from the Indian consumer.

They expect the MM2H scheme to rope in anywhere between 3,000 and 4,000 Indians in the next three years. The Reserve Bank’s recent move to raise the ceiling for resident individuals to invest abroad from $50,000 to $1 lakh is expected to help towards this. Malaysia are looking into aggressively brand our project in India this year, and mostly in the southern markets. Noting that south Indians share a great affinity with Malaysia.

Out of Malaysia’s total population, 9-10% of it constitutes Indians, predominantly south Indians with roots in Tamil Nadu, Andhra Pradesh, Kerala or Karnataka. Also, the Malaysian Tourism board is looking at marketing its product to niche markets such as the IT Industry.

Buying Investment Property concept helps boost the tourism industry. Given the large disposable incomes of people in India and the growing urge of a holiday destination. Malaysia goverment are confident that the response from India will be tremendous.

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