propertrack.com Encourages Malaysian Investment

Malaysian property portal propertrack.com has teamed up with visa programme, Malaysia My Second Home (MM2H) to promote the visa scheme to prospective overseas purchasers, making the portal a one-stop-shop for foreign investment in Malaysian property.

MM2H is an initiative of the Malaysian Government to encourage citizens of countries with which Malaysia has diplomatic relations to spend extended periods of time in Malaysia. It is essentially a long-stay visa programme for foreigners in which successful applicants are issued multiple-entry social visit passes for 10 years with an option for renewal.

Interestingly, the portal is using the global economic crisis as its marketing hook.

Asia Move Machine govern the website propertrack.com, and released a press statement quoting YBhg Dato’ Kamarudin bin Abu, Chairman of MALVISA (MM2H) Sdn Bhd and the former Malaysian High Commissioner to London:

“With the current economic and political turmoil in many developed countries, Malaysia is still the safer bet with her relatively low cost of living as compared to many of her neighbouring countries. By working together, propertrack.com has incorporated a Malaysia My Second Home (MM2H) information desk into their prime location property centre and property portal, to provide both a physical and virtual gateway for international property investors, tourists as well as families wishing to retire and live in Malaysia”.

He continued: “In essence, propertrack.com is Malaysia’s first independent one-stop property and related services information hub which will now include an MM2H information desk”.

Malaysia is gaining in popularity in what the press release refers to as “the long-stay market”. International living.com magazine ranked Malaysia as the 7th global retirement destination in its 2007 survey – the first Asian country to have been ranked as highly.

The Malaysian property market has also been buoyed by the abolition of Real Property Gains Tax in April last year.

All this is sure to give the property industry in Malaysia a boost.

Stephen Hodgson, propertrack.com’s Team Principal said the company envisaged the “consumer-driven outreach will provide ease of accessibility to MM2H information and will bring greater exposure of Malaysian property as well as foreign investment in-to Malaysia.”

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