Malaysia My Second Home
MM2H Penang Property Guide
Penang is Malaysia's most popular MM2H destination. Here's what you need to know about buying property here as an MM2H applicant or holder.
Why Penang for MM2H?
World-Class Healthcare
Penang Adventist Hospital, Island Hospital, Gleneagles — Penang is a regional medical hub with English-speaking specialists across all disciplines.
International Community
Large expat population, English widely spoken, international schools, diverse cultural and social landscape comparable to Singapore at a fraction of the cost.
Quality of Life
Ranked among Asia's best food cities. Beach access, UNESCO heritage Georgetown, warm climate, friendly population. Daily life is genuinely pleasant.
MM2H 2.0 — The Current Programme
The MM2H programme was relaunched in 2021 with significantly higher financial requirements than the original. As of 2026:
| Requirement | Platinum Tier | Gold Tier | Silver Tier |
|---|---|---|---|
| Min Offshore Income/month | RM40,000 | RM10,000 | RM5,000 |
| Fixed Deposit (FD) | RM5,000,000 | RM500,000 | RM150,000 |
| Annual spend in Malaysia | RM1,000,000 | RM120,000 | RM40,000 |
| Visa duration | 20 years | 15 years | 5 years (renewable) |
| Max dependants | Unlimited | 4 | 2 |
* Requirements are subject to revision. Verify current criteria with an authorised MM2H agent before applying. These figures represent the framework as of mid-2026.
Buying Property on MM2H in Penang
MM2H holders are treated as foreign buyers for property purchase purposes. The following rules apply in Penang:
Penang Island
- • Minimum purchase price: RM1,000,000
- • Foreign levy: 3% of purchase price
- • State consent: Required (3–6 months)
- • Max bank loan: 70% of purchase price
- • Title: Freehold or leasehold (both permitted)
Penang Mainland
- • Minimum purchase price: RM600,000
- • Foreign levy: 2% of purchase price
- • State consent: Required
- • More freehold options available
- • Lower PSF — more space per RM
Best Projects for MM2H Buyers in Penang
MM2H own-stay buyers typically prioritise security, views, lifestyle facilities, and proximity to healthcare. These projects meet the criteria:
Tanjung Tokong
Crown Penang
Freehold, residential title, sea view, high-spec security, Tanjung Tokong community. Ideal long-term own-stay condo with strong resale market.
From RM 1.2M
Gurney Drive
Westin Residences Penang
Branded residence, hotel services available, Gurney Drive address, freehold. Premium MM2H lifestyle purchase with STR option when away.
From RM 2M
Gurney Drive
The Westin Residences Gurney
Westin-branded serviced residences with hotel-grade management, Gurney Drive address, and freehold title. Full Westin hospitality access without nightly rates.
From RM 2M
Frequently Asked Questions
Do MM2H holders get a discount on property purchase in Penang?
Not a standard discount, but MM2H holders may benefit from streamlined state consent processing in some states. In Penang, MM2H holders are still subject to the RM1M minimum price on Penang Island and the foreign buyer levy. Check with a Penang-based lawyer for current exemptions.
What is the minimum property price for MM2H holders in Penang?
MM2H holders purchasing in Penang are treated as foreign buyers: RM1,000,000 minimum on Penang Island, RM600,000 on Penang Mainland (Seberang Perai). These are the same minimums as all other foreign buyers.
Can MM2H holders get a Malaysian bank loan?
Yes. MM2H holders can apply for Malaysian bank loans to purchase property. The typical maximum LTV is 70% (vs 90% for Malaysians). Some banks may offer slightly more favourable terms to MM2H holders due to demonstrated financial standing required by the programme.
Is Penang a good MM2H base?
Yes. Penang is one of Malaysia's most popular MM2H locations — English-speaking environment, excellent healthcare (Penang Adventist, Island Hospital, Gleneagles), diverse F&B, international community, and quality of life comparable to Singapore or Hong Kong at a fraction of the cost.
What are the best property types for MM2H holders in Penang?
Own-stay MM2H buyers typically favour: freehold residential-title condos in Tanjung Tokong/Tanjung Bungah (sea view, security, community), Gurney Drive corridor (walkable to amenities), or Georgetown (heritage character, vibrant community). Size: 2–3 bedrooms with good management.
📘 Verified Handbook
MM2H Penang Handbook 2026
Every tier requirement, Penang state overlay, and 8-step process. Sourced. Printable. Unverified items honestly flagged rather than glossed.
📖 Read the handbook →