Juwai.com: Chinese Property Buying in Malaysia Hits New High of $2.3 billion in 2017

JUWAI.COM reports the following:

MALAYSIA-SPECIFIC HIGHLIGHTS
Mainland Chinese buyers purchased MYR9.5 billion (US$2.3 billion) of Malaysian residential and commercial real estate in 2017.
That breaks down to MYR8.3 billion (US$2 billion) of residential and MYR1.2 billion (US$300 million) of commercial real estate.
Commercial investment in 2017 was down 59% from 2016’s MYR2.9 billion (US$700 million).
We cannot provide a comparison to 2016 residential investment, as this is the first time we have included it in our report.

MALAYSIA-SPECIFIC CEO QUOTES

Carrie Law, CEO and Director of Juwai.com, the No. 1 Chinese international real estate website and the exclusive international real estate partner to Chinese online giant Tencent, said:
“What we tried to do was make very conservative conclusions based on own data and other data from government and industry. These numbers should be seen as the lowest possible estimate of Chinese acquisitions, with the actual amount invested probably higher.
“We found that mainland Chinese buyers purchased MYR9.5 billion (US$2.3 billion) of Malaysian residential and commercial real estate in 2017, with more than four-fifths of that investment going into the residential sector.
“Chinese buyers acquired MYR8.3 billion (US$2 billion) of Malaysian residential property and MYR1.2 billion (US$300 million) of commercial real estate.
“There is no secret why these buyers like Malaysia. Proximity, affordability, quality of life, and a regulatory framework that allows them to contribute to the country and feel comfortable and safe there.
“Malaysia’s growing economy and commercial links to China and the Belt and Road Initiative make it even more appealing. Chinese property buyers make a direct contribution to Malaysia’s economy. They are very often are involved in commercial projects that further boost growth and employment in Malaysia.
“There has been some concern recently whether Malaysia’s government will continue to support foreign investment. We believe they will, of course with sufficient safeguards for the country’s economic interests. Foreign investment in Malaysia means more money in the local economy. Investment leads to economic growth and job creation, and helps boost exports. All of these are good things.”

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