Selangor Journal
A general view of city skyline including the landmark Petronas Twin Towers in Kuala Lumpur, on February 3, 2023. — Picture by REUTERS

Malaysia second top choice for Chinese real estate buyers

KUALA LUMPUR, April 3 — Real estate in Malaysia is now Chinese buyers’ second most popular Southeast Asian country, an improvement from third place in 2022, according to data released by IQI, a global network that comprises over 40,000 real estate agents.

In a statement today, IQI, which is a member of the international real estate technology group Juwai IQI, said the improvement is due to Malaysia’s convenient location, economic stability, international education sector and growing property market.

Juwai IQI co-founder and group chief executive officer Kashif Ansari said Malaysia continues to attract significant foreign residential real estate investment.

“Foreign investors view Malaysian properties as lucrative opportunities for capital appreciation and rental yields.

“Malaysia has been one of the top three countries in Southeast Asia for residential buyers from China for the past five years,” he said.

Kashif noted that Vietnam fell from second-ranked to third, swapping places with Malaysia, while Thailand remains the only Southeast Asian destination that consistently ranks higher than Malaysia and has been the number one destination for Chinese buyers since before 2018.

He highlighted that Chinese buyers who purchased residential property today cite roughly the same reasons for buying as in 2018.

“About 60 per cent of Chinese buyers say they are purchasing for investment purposes in Malaysia and Southeast Asia, which remains consistent with the 2018 figures.

“The share of buyers reporting that they purchase for their use was 63 per cent in 2023, down from 66 per cent in 2018,” he said.

Kashif also said that it is common for buyers from China to enrol their children in local international schools, which also influences their choice of location.

“This is why many of them purchase in popular expat neighbourhoods that already have a selection of such schools,” he explained.

Kashif believes Malaysia will retain its position in the competitive Southeast Asian region over the next two years.

— Bernama

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