Malaysia Rises to 4th Most Popular Luxury Property Destination Among Chinese Millionaires
Malaysia has secured the 4th spot globally among destinations most searched by Chinese high-net-worth individuals (HNWIs) seeking homes priced at US$5 million (RM22.3 million) and above, according to 2024 data released by Juwai IQI.
This puts Malaysia just behind Thailand, Australia, and Canada, reflecting a growing appetite for luxury homes in the region among China’s ultra-wealthy buyers.
Unlike in previous years where traditional Western destinations like the US and UK dominated the list, 2024’s rankings signal a strategic shift toward lifestyle-centric and value-driven property investments in Asia-Pacific.
Why Malaysia? A Unique Mix of Lifestyle, Education & Value
According to Juwai IQI co-founder and CEO Kashif Ansari, Malaysia presents a compelling alternative for wealthy Chinese buyers seeking high-quality real estate with strong lifestyle appeal and fewer regulatory hurdles.
“Malaysia offers 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,” said Kashif.
Among the top driving factors:
-
International schooling: Malaysia is home to numerous globally recognized schools and universities, attracting affluent families with school-going children.
-
Improved MM2H policies: The revamped Malaysia My Second Home (MM2H) programme has become a cornerstone of long-term residency, allowing part of the fixed deposit to be used for property purchases.
-
Familiarity: Nearly 1.2 million Chinese tourists visited Malaysia in the first five months of 2024, often returning as second-home buyers or investors.
Strategic Cities Catching Buyer Attention
The top cities Chinese HNWIs are targeting for property purchases include:
-
Kuala Lumpur: Known for its luxury condominiums, integrated developments, and close proximity to international schools.
-
Johor Bahru: With its cross-border appeal and projects in areas like Forest City and Puteri Harbour.
-
Penang: A favourite among retirees and lifestyle investors due to its blend of coastal charm, heritage, and world-class medical facilities.
These cities offer modern infrastructure, well-developed transport networks, and cultural familiarity, making them ideal for both personal use and investment.
Cultural Affinity and Stable Bilateral Ties
The growing cultural connection between Malaysia and China, supported by strong diplomatic relations and pro-business policies, continues to enhance Malaysia’s desirability as a second-home destination.
With other countries imposing tighter visa restrictions or raising property investment thresholds, Malaysia remains relatively open, accessible, and flexible—a key selling point for buyers navigating global capital controls or emigration uncertainties.
Asia Overtakes the West in Luxury Property Appeal
The latest data from Juwai IQI’s 2024 global trends reveals a broader shift in the preferences of Chinese HNWIs:
-
Thailand has overtaken the United States as the top destination.
-
The US dropped from 1st to 7th place, while Singapore fell from 3rd to 9th.
-
In contrast, Thailand, Australia, and Canada now lead, with Malaysia emerging as Asia’s rising star.
This shift indicates a movement away from emigration-focused purchases toward lifestyle, regional proximity, and strategic investment—a space where Malaysia is increasingly competitive.
What This Means for Malaysia’s Property Market
For developers, agents, and investors, this data signals:
-
A golden window of opportunity to target HNWIs from China with tailored luxury offerings.
-
The need to emphasize lifestyle, education, and health amenities in project marketing.
-
A focus on locations with MM2H appeal, international schools, and easy air access.
With the Kuala Lumpur-Singapore High Speed Rail, expanded tourism ties, and evolving digital residency options, Malaysia is well-positioned to become a premium property hotspot for foreign HNWIs seeking value, access, and elegance.
