Malaysia has emerged as the top three country in Asia for outbound cross-border property investment after Mainland China and Hong Kong, according to Juwai IQI Holdings’ Asia-Pacific Cross-Border Residential Property Buying Trends Report 1Q2024 that was issued on Tuesday.
The report said Malaysia’s ranking demonstrates the growing buying power of Malaysian consumers and their increasing interest in cross-border property investments. The top destinations Malaysian buyers have shown interest in are Thailand, Australia, Vietnam, Indonesia, Singapore, Spain, the UK, Greece, Japan and the US, in that order.
The report attributed several key factors that contribute to this interest among Malaysian buyers in buying overseas real estate, including economic growth and a rising middle class that have increased disposable income, enabling more individuals to invest internationally.
In a statement accompanying the report’s release, Juwai IQI Holdings CEO Kashif Ansari said that Malaysia is “a dynamic player in outbound investments. Our economic growth and rising middle class are fuelling significant interest in international real estate.
Malaysian investors are expanding their horizons and diversifying their portfolios, which will continue as the global market evolves.”
In addition to outbound property investments, Malaysia is also a popular inbound property investment destination. According to the report, it is the second most popular destination for buyers from Singapore, sixth for Hong Kong buyers and seventh for buyers from mainland China.
The factors driving foreign buyer interest in Malaysia’s residential real estate market include the country’s strategic location, significant new infrastructure projects, favourable investment climate, reasonably high yields and the appeal of its diverse property market, according to the report.
Apart from those, the appreciation of overseas currencies over Malaysia’s currency has also contributed to increased affordability among regional buyers.
Source: The edge Malaysia
