MALAYSIA: Singaporeans made 320 residential property purchases in Malaysia in the first half of this year, with transactions worth more than RM518 million (about S$162.58 million), placing them as the second largest group of foreign buyers in the country’s housing market.
According to The Star, Malaysian Housing and Local Government Minister Nga Kor Ming disclosed the figures in a written parliamentary reply, citing data from the Valuation and Property Services Department. The data show that Malaysia’s residential market continues to be overwhelmingly driven by domestic demand, with more than 119,000 transactions recorded during the same period and a total value of roughly RM47.47 billion (around S$14.89953 billion).
Foreign buyers represented less than 1% of all residential property transactions, amounting to 913 deals worth RM1.904 billion (approximately S$597.61 million).
Chinese nationals made up the largest group of overseas purchasers, with 329 transactions valued at more than RM830 million or about S$260.51 million, while while Indian buyers ranked third with 47 transactions amounting to RM87.16 million or around S$27.35 million.
Mr Nga also noted that under the proposed 2026 budget, the federal government plans to raise the stamp duty imposed on residential property transfers involving foreign individuals and companies from the current 4% to 8%. He said the move is intended to increase government revenue and help stabilise the property market, ensuring that Malaysians continue to have access to homes at prices they can afford.
