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Malaysia’s economy continues to expand; Chinese continue to invest

Chinese investors continue to invest in Malaysian real estate, urged by the slowdown in the nation’s real estate market and a rise in Chinese investments abroad

Among the top nationalities taking part in the PViP are the Japanese and other Asian nationalities, followed by Europeans, North Americans, and Middle Easterners. sduraku/Shutterstock

During the first half of 2022, Malaysia’s property sector saw a 36.1 percent increase in volume and value YoY, reaching 188,000 transactions valued at MYR84.4 billion (USD18.2 billion).

As the country approaches the endemic, Bank Negara Malaysia projects an economic growth between 5.3 and 6.3 percent, reported theSun. Moreover, various government initiatives and assistance will support the property market’s performance.

According to Deputy Finance Minister I Datuk Indera Mohd Shahar Abdullah, domestic demand is growing because of improving job market conditions and continued policy support.

“The residential subsector continues to drive the market by commanding more than 60 percent of the total number of transactions and almost 54 percent of the total transaction value. This is followed by the agriculture subsector with a share of almost 22.1 percent in terms of (figures) while the trading subsector is in second place with a share of 16.6 percent in terms of transaction value,” he noted.

More: Malaysia after the Home Ownership Campaign: What’s next for aspiring buyers?

Additionally, during the review period, the residential property sector reported 116,178 transactions worth MYR45.6 billion (USD9.8 billion), an increase of 32.2 percent in value and 26.3 percent in volume YoY. Johor, Kuala Lumpur, Penang, and Selangor collectively accounted for 47 percent of the national residential volume.

The commercial property sector recorded 15,169 transactions, reaching MYR14 billion (USD3 billion). This is a 28.3 percent increase in value and a 45.4 percent increase in volume from the same period last year.

Chinese investors continue to invest in Malaysian real estate, urged by the slowdown in the nation’s real estate market and a rise in Chinese investments abroad, particularly in Southeast Asia, according to The Star.

Apart from that, investing in the country makes them eligible for Malaysia’s new premium visa programme (PViP), which is open to wealthy migrants looking to live and work in Malaysia.

Among the top nationalities taking part in the PViP are the Japanese and other Asian nationalities, followed by Europeans, North Americans, and Middle Easterners.

information, email: [email protected].

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