In a strategic move to attract more foreign residents and revitalize its real estate market, Sabah has announced significant changes to its Sabah-Malaysia My Second Home (SBH-MM2H) programme. The most notable amendment is the reduction of the minimum age for applicants from 50 to 30 years, positioning Sabah as a more accessible destination for younger expatriates compared to the federal MM2H programme.
Chief Minister Datuk Seri Hajiji Noor outlined the new policy, highlighting that under the revamped SBH-MM2H programme, participants will now be able to sell their property after a five-year holding period, provided they reinvest in a new home valued at no less than RM600,000. This move is expected to stimulate property transactions and boost the local economy by ensuring continuous investment.
Moreover, the new policy mandates that all SBH-MM2H agents must be locally based companies from Sabah, which aims to foster local business growth and ensure that economic benefits from the programme are retained within the state.
Datuk Christina Liew, the state Tourism, Culture and Environment Minister, confirmed that the SBH-MM2H programme is set to be implemented this month, following a series of amendments aimed at making Sabah an attractive and competitive destination for international homebuyers and long-term residents. “These changes not only make it easier for younger investors to consider making Sabah their second home but also ensure that the benefits of these investments boost our local economy,” Liew explained.
The announcement comes at a time when Sabah is looking to diversify its economic strategies to include more sustainable and long-term revenue sources, such as property investment and tourism, following the global disruptions caused by the Covid-19 pandemic.
By lowering the age limit and adjusting investment requirements, Sabah is setting the stage for a significant influx of foreign nationals who are seeking a lifestyle change in a vibrant and culturally rich setting. This strategic shift is anticipated to increase the demand for higher-value properties and encourage a steady flow of foreign capital into the state, benefiting a wide range of sectors associated with real estate and community services.
As the SBH-MM2H programme rolls out with its new terms and conditions, it promises to be a cornerstone initiative that could reshape Sabah’s appeal as a preferred destination for global citizens looking to enjoy the unique blend of natural beauty and cultural heritage that Malaysia offers.
