The Malaysia My Second Home programme has put more than RM5 billion into property purchases in less than two years, according to figures released by Deputy Tourism, Arts and Culture Minister Chiew Choon Man. That is the property number inside a larger RM8.85 billion economic-value claim, and it deserves more attention than a victory lap.
Bernama reported on 26 September 2026 that MM2H generated RM8.85 billion between 1 October 2024 and 31 August 2026, comprising more than RM5 billion in property purchases and RM3.82 billion in fixed deposits. The programme received 7,650 new applications across the Platinum, Gold, Silver and Special Economic Zone categories in the same period.
China was the largest applicant source with 3,847 applications, followed by Taiwan with 1,054, Hong Kong with 324, Singapore with 287 and the United States with 284. FMT and The Star carried the same core figures, both attributing them to Chiew's statement.
Rummah News' view is simple: the RM5 billion property figure is meaningful, but not complete. A national total tells sellers that foreign residency demand is back in the conversation. It does not tell a Penang buyer whether the pressure is landing in Batu Ferringhi, a Johor agent whether it is around Forest City and the JS-SEZ, or a KL owner whether it is concentrated in the high-end condo belt.
That distinction matters because MM2H does not touch every housing segment evenly. Its property effect, where it exists, is more likely to be felt in selected expatriate, retirement and investor-friendly locations than in the mass market. Without a state, district and price-band breakdown, the figure is useful as a signal but weak as a planning tool.
The next useful disclosure would be a map: how many MM2H-linked purchases were made in each state, at what median price, and under which programme category. Until then, RM5 billion tells Malaysia that foreign long-stay demand is real again. It does not tell local buyers where that demand is changing the market.
Sources: Bernama, Free Malaysia Today, The Star, MOTAC MM2H programme page.
