China's global real estate purchases hit new high

Buyers from mainland China purchased RM9.5 billion worth of residential and commercial properties last year. More than four-fifths of the investment was in the residential sector, according to Juwai.com, the No. 1 Chinese real estate website. Chinese buyers acquired residential properties worth RM8.3 billion and commercial real estate worth RM1.2 billion, said its chief executive officer and director Carrie Law. Malaysia’s growing economy and commercial links to China and the Belt and Road Initiative has made the Southeast Asian country even more appealing to the investors, she said.Law said there were some concerns recently over whether the Malaysian government would continue to welcome foreign investments, but she believed the support would continue. “They will (support), of course, with sufficient safeguards for the country’s economic interests. Foreign investment in Malaysia means more money for the local economy. Investment leads to economic growth and job creation, and helps boost exports. All of these are good things. “Chinese property buyers make a direct contribution to Malaysia’s economy. They are very often involved in commercial projects that further boost growth and employment in Malaysia,” she said.