By Sharen Kaur - April 15, 2025
KUALA LUMPUR: Malaysia has surged into the spotlight in 2024, ranking as the fourth most-enquired destination among Chinese high-net-worth individuals (HNWIs) looking for luxury homes priced at US$5 million and above, according to new data from Juwai IQI.
Juwai IQI co-founder and group chief executive officer Kashif Ansari said Malaysia made a remarkable leap from outside the top 10 in 2023, now trailing only Thailand, Australia, and Canada as a favoured overseas property destination for China's ultra-wealthy buyers.
He attributed Malaysia's rising appeal to a combination of factors: strong value for money, a growing international education landscape, improved visa policies, and a premium lifestyle offering that rivals far pricier markets.
The sharp rebound in Chinese tourism has also played a key role, with nearly 1.2 million Chinese visitors arriving in the first five months of 2024 — boosting familiarity and confidence in the local real estate market.t
Kashif noted that Chinese student enrolment in Malaysian universities jumped 35% from 2021 to 2023, which has driven property demand in urban hotspots like Kuala Lumpur, Johor Bahru, and Penang.
The revamped Malaysia My Second Home (MM2H) programme, introduced in 2023, has further enhanced Malaysia's appeal. It now offers more structured pathways for long-term residency and allows participants to use part of their fixed deposits to invest in property.o
Citing research by global consultancy Savills, Kashif highlighted that prime residential property in Kuala Lumpur averages just US$240 per square foot — dramatically more affordable than in Singapore (US$1,810) and Bangkok (US$1,090).
"Malaysia is quietly emerging as an Asian luxury market sweet spot," he said.
It offers the comfort and quality that HNWIs from China and other nations want — without the visa headaches, capital controls or high price tags they face elsewhere, Kashif said.
A market observer noted that as global wealth shifts and affluent buyers increasingly prioritise both value and lifestyle, Malaysia is fast emerging as a compelling destination in the luxury real estate space.
"Many Chinese buyers are already familiar with Malaysia, having established personal ties through tourism, education, or business," he said.
"Malaysia's proximity to China makes it easily accessible, with short flight times and a strategic location in the heart of Southeast Asia — ideal for both business and leisure."
He added that Malaysia's comparatively lower luxury property prices, especially when measured against cities like Singapore, Hong Kong, or even Bangkok, enhance its appeal — not only to Chinese investors but to the global market at large.
Source: https://www.nst.com.my/property/2025/04/1202008/malaysia-climbs-fourth-spot-top-luxury-property-pick-chinas-ultra-rich
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