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Malaysia among top destinations for Chinese buyers, western expatriates, says property tech company

Malaysia among top destinations for Chinese buyers, western expatriates, says property tech company

24 Jul 2023

Malaysia is more desirable than ever with expatriates and investors worldwide as a property investment destination as the country has rebounded from Covid-19 to be a more dynamic and positive place, said property technology company Juwai IQI today.

It noted that Chinese homebuyers have upgraded Malaysia to the sixth most popular destination in the first half of 2023 (1H 2023), while a survey by global expat organisation InterNations comprising 12,000 respondents has found that Western expatriates rank Malaysia as the fourth best place in the world.

Malaysia and other South-east Asian countries also made up four of the 10 top countries that receive the most Chinese property investment in 1H 2023, according to a new report based on the number of buyer inquiries received through Juwai IQI’s platform.

Juwai IQI co-founder and group chief executive officer Kashif Ansari said Malaysia ranked well because of its quality of life, affordable living, and digital connectivity, and being a multi-lingual country, visitors worldwide feel comfortable here.

“When it comes to Chinese buyers, they have amassed unprecedented savings that can be used for overseas property purchasing. According to official statistics, in the first nine months of 2022 alone, Chinese savings deposits soared in value by 26.3 trillion renminbi (US$3.6 trillion),” he said in a statement.

Juwai IQI said the Chinese also make up the world’s most numerous participants in golden visa programmes, whereby Chinese applicants account for 46 per cent of such approved visas in Australia and Greece and 31 per cent in Portugal.

The Chinese also account for equally large shares of lower-profile citizenship and residency through investment programmes, whereby 25 per cent of all golden visas issued by Antigua and Barbuda have gone to Chinese citizens. 

Source: Bernama