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.
The Current Programme — Silver, Gold and Platinum
MM2H was restructured under the Ministry of Tourism, Arts and Culture (MOTAC) in July 2024 into tiers. Two things changed that still catch people out, because much of what is written online predates the restructure:
- •There is no offshore income requirement. The old RM40,000 monthly offshore income rule is gone, as is the RM1,500,000 liquid asset test. If a page quotes either at you, it is out of date.
- •Buying property is now mandatory, not optional. Every mainland tier requires you to purchase a residential property and hold it. The old deposit-only route no longer exists.
Fixed deposits are denominated in US dollars; the property minimums are in ringgit.
| Requirement | Platinum Tier | Gold Tier | Silver Tier |
|---|---|---|---|
| Fixed deposit | USD 1,000,000 | USD 500,000 | USD 150,000 |
| Min. property purchase | RM2,000,000 | RM1,000,000 | RM600,000 |
| Visa duration | 20 years, renewable | 15 years, renewable | 5 years, renewable |
| Minimum age | 25 | 25 | 25 |
| Right to work | Yes — as company director / shareholder | No | No |
| Minimum stay | 90 days/yr (ages 25–49); none at 50+ | 90 days/yr (ages 25–49); none at 50+ | 90 days/yr (ages 25–49); none at 50+ |
| Offshore income required | No | No | No |
The part that matters most if you are buying in Penang
The tier property minimums line up almost exactly with Penang's own foreign-buyer floors. Silver's RM600,000 matches the Penang mainland minimum; Gold's RM1,000,000 matches the Penang Island minimum. In practice that means your tier decides which side of the channel you can buy on: Silver realistically puts you in Seberang Perai, Gold opens the island, and Platinum's RM2,000,000 sits in the island's luxury tier. Both tests apply at once — you must satisfy your MM2H tier minimum and Penang's foreign-buyer floor for the location you choose.
There is also an SEZ/SFZ tier with a lower deposit and an RM500,000 property minimum, but it is tied to designated special economic and financial zones, so it is not a route into Penang property.
Other conditions that apply across the mainland tiers: the property must be purchased within 12 months of visa endorsement and held for a minimum of 10 years, and applications must be submitted through an MM2H agent licensed by MOTAC — direct applications are no longer accepted. Requirements are revised from time to time; confirm current criteria with a licensed agent before you commit to a purchase.
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
W Residence Gurney Bay
Branded residence, hotel services available, Gurney Drive address, freehold. Premium MM2H lifestyle purchase with STR option when away.
From RM 2M
Gurney Drive
W Residence Gurney Bay Gurney
Hotel-branded serviced residences with hotel-grade management, Gurney Drive address, and freehold title. Full hotel 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 →