KUALA LUMPUR, Dec 10 — Juwai IQI expects foreigners to increase investments in the residential sector next year at a sustainable rate of no more than five per cent.
Its co-founder cum group chief executive officer Kashif Ansari said foreigners holding Malaysian investment visas will spend at least another RM166 million in the country in 2025, contributing further to the economy.
"Top buyer groups are likely to remain unchanged, with those from China leading the list," he said in a statement today.
Kashif added that Malaysia has outperformed in two key areas, a stable property market and attractive visa requirements for businesspeople, digital nomads, and wealthy retirees.
The real estate technology group said it estimated a conservative 700 approvals for the Malaysia My Second Home programme this year, assuming that every approved application resulted in a resident in the year of approval and remaining so thereafter.
Based on the United States’ research on digital nomads' average spending in their host communities, it has estimated an annual per person spending of RM134,000 or US$30,000.
Hence, Juwai IQI believes foreign property investment in the country will likely climb in 2025.
— Bernama
