Anwar’s China Visit Draws Chinese Property Investors to Malaysia
It is an exciting time for Chinese investors looking to expand their property portfolios overseas, with the attractive Malaysian property market a more alluring destination this year.
This is largely due to Malaysia’s Prime Minister Datuk Seri Anwar Ibrahim’s recent visit to China on September 17, his second since becoming Prime Minister in November 2022.
Anwar, who is also Malaysia’s Finance Minister, was accompanied by Chinese Premier Li Qiang to attend the official opening of the 20th China-ASEAN Expo, and the China-ASEAN Business and Investment Summit during his time there.
The Prime Minister’s visit was also organised ahead of the 50th anniversary of Malaysia-China relations in 2024. To mark the nations’ commitment to trade relations, Anwar signed three separate memorandums of understanding with three different Chinese companies for them to invest in Malaysia.
New Age of Cooperation Between Malaysia and The Mainland
This fruitful visit ushers in a new age of trade cooperation between the two nations, which has already been heralded by 12 other top exchange visits this year. Anwar has even invited Chinese President Xi Jinping and Premier Li for an official visit to Malaysia next year, a sign of solid political ties between the two countries.
Chinese investors will be particularly excited at these developments as more of them turn their eyes to overseas property. Stable relations between Malaysia and China could be a key pull factor for many to invest in Malaysia.
One big implication of this is that those who end up buying property in Malaysia and moving over to stay can rest assured that ease of travel between the mainland and Malaysia will be maintained.
The Southeast Asian country will also likely to be more favourable to Chinese investors, given their close relations with China. This could expedite property transactions and make for a more convenient purchase.
As a result of favourable trade ties with Malaysia, Chinese investors can even expect to find a taste of home in Malaysia in the form of home brands or products.
Low Cost of Living
Even before Anwar’s visit, Malaysia has already been a hot spot for foreign investors due to its low cost of living. Chinese emigrants who want to call Malaysia home will be able to live in comparative lavish standards, where they can purchase luxury properties at affordable prices. Malaysia is also the only Southeast Asian country in which foreigners can own land.
Furthermore, the large peninsula also offers numerous property options for investors. From bustling cityscapes to rural landscapes, Chinese investors can pick and choose the sort of scenery they want, said Winston Lee, Director of Special Projects at PropertyGuru.
Apart from the comparatively lower cost of living, the cultural similarities is another draw for Chinese investors. In the social media space, the increasing number of Chinese content creators, influencers and key opinion leaders who are based in Malaysia and who produce videos about their lives there have led to a growing interest in the country, and consequently, its property market.
“The true charm of Malaysia often goes underestimated. Those who have experienced it first-hand discover profound cultural similarities that resonate with everyday life in Malaysia, such as the cuisine, the prevalence of Chinese-speaking communities, and the educational system,” added Lee.
“Prime Minister Anwar's recent visit to China has injected new vitality into the Malaysian property market,” he said. “Stable relations between Malaysia and China ensure ease of travel, expedited property transactions, and even a taste of home in Malaysia through familiar brands or products.”
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