Will a change in government affect the MM2H program?
The country is abuzz today with news that a new coalition party will be formed. This new coalition party will be made up of some parties of the current Pakatan Harapan ruling party along with factions of the previous ruling government, Barisan Nasional.
If you are on the streets of Kuala Lumpur this morning, sipping your teh tarik, you may overhear local Malaysians talking of pending doom and gloom if this new party emerges.
So what will happen after today if a new ruling party emerges?
Frankly, nothing significant to the daily lives of Malaysians.
It's been 2 years since the old regime was overturned by Pakatan Harapan and frankly, very little has changed.
So will anything change for those of you still keen on the Malaysia My Second Home program?
Cost of living
Cost of living has remained relatively the same for most Malaysians before and during Pakatan Harapan's term with hardly any new policies that have made any significant difference to the cost of day-to-day essentials.
The current residential property glut can be blamed on the previous ruling party, Barisan Nasional. With no proper masterplan, private developers were allowed to build as they like with no actual consideration of environmental impact or issues of supply and demand. A new government today will likely reverse policies to control the approval of new projects. However, the clear oversupply in the market will very likely keep the market remaining soft and it will still be a buyer's market for the foreseeable year or so at least.
Safety and security
Malaysia has always been a safe & peaceful nation. Over the next few days we will probably see some large protests on the streets, but as always these protests should remain largely peaceful and will not go on for long. Very soon disillusioned Malaysians will return to work and back to the daily grind as life goes on.
And what of MM2H?
The Malaysia My Second Home program will continue as usual. Both the Barisan Nasional and Pakatan Harapan governments have previously acknowledged the success of the program and the positive contribution that it brings to our economy. We will however probably see some minor changes here and there to application procedures as the ministries in power work to make the systems more efficient (or so they say!).
Foreigners can retire or reside in Malaysia under the Malaysia My Second Home programme! Find out more about the MM2H programme by registering your details with us here and we will send you an info pack!.