Juwai.com: Chinese buyers reaction to Malaysia election results


Carrie Law, CEO of Juwai.com, the No. 1 Chinese international real estate website and the exclusive international real estate partner to Chinese online giant Tencent, said:
“We foresee many opportunities under the new government, as under the old, for Chinese investors and non-investment buyers to contribute to the country’s growth and bright future. Like most countries in Southeast Asia, Malaysia needs outside investment to help it achieve its development goals.
“The new government hopes to build one million affordable houses within two terms of its administration. This very ambitious goal will create large numbers of jobs for Malaysians.

To succeed on its affordable housing goal, the government may need to draw on the expertise and capital of Chinese developers and investors. There is no country in the world with more experience building large quantities of affordable housing on budget, on schedule, and with hoped-for side benefits such as local employment and economic development.
“I would like to congratulate all Malaysians on their successful election, which demonstrates what a peaceful, successful, and developed country Malaysia has become.
“At this date so soon after the election, it seems many Chinese buyers have been infected with the general Malaysian feeling of optimism. They believe that, under the new government, the country will continue to be well-managed and to benefit from strong economic growth. The new government promises stricter government oversight and more transparency. These are policies that have been very successful at curtailing bad management in China itself under President Xi Jinping. Many Chinese feel that they can only be good in the long run for the Malaysia – Chyna relationship.
“As long as any uncertainty persists, some Chinese buyers will hold back. But the overall package of visa, home-buying, and education policies in Malaysia remains very appealing. If there is no change, we expect Chinese investment in Malaysian property to continue to grow in the months and years to come. Chinese acquisitions could at least double by 2025.
“Chinese buyer inquiries on Malaysian property in the first three months of this year are 102.8% higher than one year ago. The final April data shows that Chinese buyer inquiries in Malaysia were up 121% compared to April 2017.
“Despite the rapid growth of Chinese property investment in Malaysia, Singapore was the top source of foreign direct investment (FDI) in 2017. The Netherlands, Japan, the United States and Hong Kong completed the top five. China was only the six largest foreign investor, bringing in US$2.36 billion, or 7.1 per cent of total FDI to Malaysia. That is according to data from DBS Bank.

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