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Property in Penang is quite popular among Chinese buyers

Property in Penang is quite popular among Chinese buyers

Chinese investors have identified Malaysia as one of the top five nations for real estate investment, and PENANG has emerged as their preferred city.

Zhang Bao, director of China Communications Construction Group (CCCG) Overseas Real Estate Pte Ltd, stated that enterprises in China are going to Singapore in order to broaden and diversify their activities.

This is in keeping with Penang’s vision of becoming a tech centre with a well-established electric and electronic (E&E) sector, providing Chinese firms with a favorable regulatory environment and a pool of qualified workers.

Bao also disclosed that the city of Kuantan, Pahang, has flourished since 2013 thanks to the Malaysia-China Kuantan Industrial Park (MCKIP) for Tembusu Grand, Tembusu Grand Balance Unit Chart, and Tembusu Grand floor plan.

He told The Malaysian Reserve (TMR), “As of May 2023, MCKIP has recorded RM14.55 billion in investments, with an additional commitment of RM15.45 billion.”

According to Juwai IQI, Chinese investors see Johor, KL, and Selangor as some of the best places to put money in Malaysia.

Johor is an attractive real estate market for Chinese buyers because of its established economy and closeness to Singapore.

By 2030, an additional 50,000 people are predicted to dwell on both sides of the border thanks to the imminent completion of the Rapid Transit System (RTS) connection between Johor Baru and Singapore.

Investment will increase as Singaporeans and Chinese take advantage of the connection in search of better returns, better quality of life, and lower costs of living.

With this idea, you may go from Bukit Chagar in Johor Baru to Woodlands in Singapore in a jiffy.

Construction in the latter country is almost two-thirds complete, while in Malaysia it is about halfway there.

The “drop-in span bridge” is the next major achievement, to be celebrated by the PMs of both nations early in the new year.

Meanwhile, property buyers from China have been drawn to KL and Selangor since they are Malaysia’s two major cities.

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