The report said Chinese buyers drove a significant multiplier effect as the impact of their investment spread to other sectors, such as retail, hospitality, manufacturing, banking, insurance, and transportation. However, he said the government of Malaysia has much more control over foreign property buyers than does the government in the US and many other countries. "In the first half of 2019, Malaysia was the fifth most popular country for Chinese property buying enquiries in the world, ” he said. However, he said in terms of the total Chinese property investment value, Malaysia ranked lower with Thailand, Japan, Australia, and Canada all ranked ahead of Malaysia as the four most popular destinations for Chinese buyers. It said mainland Chinese buyers’ demand for residential property directly supports the employment of some 37,800 Malaysian and local foreign workers in residential building construction.

Source: The Star November 11, 2019 09:02 UTC