Hong Kong, Real Estate, Malaysia, Kong

Hong Kong, Real Estate

People in protest-hit Hong Kong eye Malaysia's second-home programme

People in protest-hit Hong Kong eye Malaysia's second-home programme

20.8.2019

People in protest-hit Hong Kong eye Malaysia 's second-home programme

A Malaysia n programme to attract wealthy foreigners to live in the Southeast Asian nation has drawn 251 applications from Hong Kong residents this ...

Property consultants said interest in the"Malaysia My Second Home" (MM2H) initiative has surged among residents of the Asian financial hub, rattled by anti-Beijing protests that began more than 11 weeks ago.

Real estate agents expect Malaysia and Thailand to benefit the most from some Hong Kong residents' frustration over the

"The push factor from Hong Kong will definitely make Malaysia one of the best alternatives for a new location to reside," said Sharifah Ikhlas Aljaffree, the director of the programme run by Malaysia's tourism ministry.

Hong Kong applicants are on either side of 50 and work in sectors such as information and communications technology, Sharifah added.

MyExpat, an agency that advises expatriates on Malaysia's programme, said the number of its Hong Kong clients had surged in the past two weeks, but gave no figures.

One of his targets was the US$100-billion Forest City real estate project on Malaysia's southern tip, being developed by China's Country Garden Holdings Co Ltd .

Hong Kong buyers were looking elsewhere in the long term because they faced prices exceeding what 75 per cent of the population could afford, he said.

Read more: CNA

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