KL a prime new-build market for China investors
KUALA LUMPUR: Kuala Lumpur has been listed as one of the favourite prime new-build markets for property and real-estate investors from China, according to a report compiled by Knight Frank.
Its global head of residential research Liam Bailey said the Chinese are the most influential buyers in the world's prime new-build sector.
"Chinese are the top purchasers of new-build residential properties in Sydney and Hong Kong and are active buyers in both Kuala Lumpur and Bangkok's prime new-build markets," Bailey said yesterday.
Liam said Chinese buyers' global presence is fuelled in part by the strong yuan and a slowing domestic economy, both encouraging them to look further afield in an attempt to diversify investments.
He said the next most influential buyers are from Singapore and Russia, followed by the United Kingdom and the United States.
"Given the recent growth in wealth creation in Asia over the last few years, it is, perhaps, no surprise that buyers from this region feature strongly among our list of top global new-build purchasers," he said.
"There is no doubt that recent residential market cooling measures in Asia have acted as a spur for many investors from that region to look further afield," he added.
Knight Frank also named key nationalities that will increase investments in new-build residential properties over the next 12 months, who include investors from China, Russia and the US.
"Given the popularity of prime real estate as an investment in the years following the financial crisis, we expect a portion of this growing wealth will continue to be assigned to new-build properties in key locations around the world," Bailey said.
The report, which is issued quarterly, includes data on the luxury new-build home sector from Knight Frank's global network for the year to end-July 2013.