RPGT: Property transfer must be reported to LHDN within 60 days
Both parties involved in any property ownership transfer transactions in Malaysia are required to report to the (HASiL)
According to 2024 data from Juwai IQI, Malaysia now ranks behind Thailand, Australia, and Canada as a preferred destination for ultra-wealthy house buyers from China.
Juwai IQI co-founder and group CEO Kashif Ansar said the report attributed Malaysia’s rising popularity to a combination of strong value, international schools, improved visa policies, and a lifestyle that rivals more expensive markets.
“Many high-net-worth buyers are repeat visitors who develop personal ties to the country through travel, education, or business.
“Chinese tourist arrivals in Malaysia reached nearly 1.2 million in the first five months of 2024. That sharp recovery has brought with it greater buyer confidence and local familiarity,” he said.
He said Chinese student enrolment in Malaysian higher education institutions rose by 35% between 2021 and 2023, fuelling property demand in areas such as Kuala Lumpur, Johor Bahru, and Penang.
He said the revised Malaysia My Second Home programme had also enhanced the country’s appeal, introducing more structured pathways for long-term stays and allowing participants to use part of their fixed deposits for the purchase of property.
Citing research from global property consultancy Savills, he said prime homes in Kuala Lumpur cost an average of US$240 per square foot – significantly lower than Singapore (US$1,810) and Bangkok (US$1,090).
“Malaysia is quietly emerging as an Asian luxury market sweet spot. It offers the comfort and quality that HNWIs from China and other nations want – without the visa headaches, capital controls, or high price tags they face elsewhere,” he said.
