Malaysia property market is looking great with Chinese investor interest increasing five-fold
Chinese Interest in Malaysia Property Surges
Things are looking up for the Malaysia property market this year. Just this August, Malaysia property enquiries from Chinese buyers have increased up to 550%, and views of online Malaysia property listings jumped to 52%.
According to Charles Pittar, Chief Executive Officer of Juwai.com, Chinese buyers are seeing Malaysia as a nearby and easily accessible country with an appealing and very affordable property market. He further explains that Malaysia attracts buyers who are either property investment or lifestyle-driven, has family or commercial ties in the country, or cannot afford property in bigger markets such as in the United States or Australia.
Although Chinese buyers are a minority in the property market, it still sets an optimistic tide for the property investment industry in Malaysia. On average, these Malaysia property searches by the Chinese are worth around USD224,000. Ranking 11th in Chinese buyer interest worldwide, real estate Malaysia is bringing in significant cash to the country. “China was the biggest source of inward investment to Malaysia last year across the board, not just in property. Some of the investment in industry and development has positive spill-over effects for residential property,” says Pittar.
Aware of such interests, real estate Malaysia developers are exerting more effort to cater to these buyers. “They are locating and designing projects to appeal to Chinese as well as locals, and they are marketing them in China,” Pittar adds.
This is positive property news for Malaysia property market, affirms Pittar. “I believe Malaysia home prices are up 7.2% year-on-year. We think the outlook is good for the market, although it does face some headwinds.”
With this, the climate for property investment is looking sunny. More reasons to make your overseas property investment in Malaysia! Let Yazhou Property help you if you’re interested. Click here to learn more about investing in Malaysia or other Asia properties.