Most high net worth Malaysians buying real estate

  • Business
  • Tuesday, 15 Mar 2016

woman walks past by 'To Let' or 'Sold' signs in south-east London, Britain, 31 January 2016. House prices have rocketed in the outskirts of the capital as buyers move further out. The housing property market has seen rises up the 20 per cent such in the boroughs of Newham or Waltham Forest in the last year alone, while boroughs such as Westminster had a very modest increase. EPA

KUALA LUMPUR: About 65% of high net worth Malaysians have been buying real estate over the past decade and the same proportion will seek properties as part of their portfolio in the next 10 years, according to a report. 

This is versus the global average of 16% of the world's super rich who will be looking for bricks and mortar in the next decade, Knight Frank said at the launch of its 10th edition of The Wealth Report 2016 on Tuesday.

Although the report does not specify whether these wealthy Malaysians will be buying locally or abroad, its Asia Pacific research head Nicholas Holt said Malaysians’ main interests are Melbourne, London and Singapore. 

The report also said that 26.3% of the respondents to the survey cited in the attitude survey that they are looking to change domicile versus the lower percentage of 18.4% in Asia and a global average of 15.6%.

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