China has eclipsed Singapore as the biggest source of investment in Malaysian real estate, as soaring domestic property prices push mainland investors to hunt for bargains abroad.
Chinese groups have invested more than $2.1bn in Malaysian real estate over the past three years, compared with $985m invested by Singaporean companies between 2014 and 2016, according to figures from Real Capital Analytics based on completed transactions of $10m and above.
Malaysia has emerged as a favoured destination for mainland Chinese investors seeking a cheaper alternative to Australia and Hong Kong.
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