MALAYSIA has emerged as the fourth most searched destination among high-net-worth individuals (HNWIs) from China looking for homes priced at US$5 million (RM22.3 million) and above, according to 2024 data from property technology group Juwai IQI.
The country now sits just behind Thailand, Australia and Canada as one of the most preferred locations for ultra-rich Chinese buyers, driven by a combination of lifestyle appeal, educational infrastructure, and competitive value in luxury real estate.
Juwai IQI co-founder and CEO Kashif Ansari said Malaysia offers a compelling blend of international schooling options, improved visa policies, and a high quality of life at significantly lower prices than other regional markets.
“Many of these buyers are repeat visitors who have built a personal connection with Malaysia through travel, education or business,” he said in a statement.
Kashif highlighted that Malaysia welcomed nearly 1.2 million Chinese tourists in the first five months of 2024, a recovery that has contributed to greater buyer confidence and familiarity with the local market.
Education remains a major pull factor, with Chinese student enrolment in Malaysian higher learning institutions rising by 35% between 2021 and 2023. Families are increasingly purchasing homes near universities and international schools, especially in Kuala Lumpur, Johor Bahru and Penang.
The revamped Malaysia My Second Home (MM2H) programme has also boosted the country’s appeal. Revised in 2023, MM2H now provides a more structured pathway for long-term residency and allows visa holders to use part of their fixed deposits to purchase property.
“Malaysia now stands out as a destination that delivers a luxury lifestyle at far better value. Compared to Bangkok or Singapore, prime homes in Kuala Lumpur or coastal areas are up to 87% cheaper while still offering comparable space, amenities and prestige,” he said.
Kashif further added that cultural affinity and strong diplomatic ties further enhance Malaysia’s attractiveness, especially as other countries tighten property-related visa rules or raise minimum investment thresholds.
“As a result, Malaysia is quietly becoming a rising star in Asia’s luxury property market. It offers the comfort, quality and flexibility that wealthy buyers from China and other nations are seeking—without the visa restrictions, capital controls, or steep price tags found elsewhere,” he said.
Meanwhile, Juwai IQI’s latest data shows that Thailand has overtaken the US as the top destination for Chinese HNWIs, signalling a shift in buyer priorities from emigration to lifestyle and investment.
In 2024, the US fell from first to seventh, the UK slipped from second to fifth, and Singapore dropped from third to ninth. In contrast, Thailand climbed from seventh to the top spot, followed by Australia and Canada. –TMR
