KUALA LUMPUR, April 28 — Malaysia’s billionaire population is set to grow 39 per cent by 2031, according to Knight Frank’s flagship publication, The Wealth Report.
It said Malaysia’s ultra-high-net-worth individuals (UHNWIs) are projected to showcase a five-year growth of 20.1 per cent, from 1,566 individuals in 2026 to 1,881 in 2031, representing a marked increase from the past five-year growth rate of 6.5 per cent (2021-2026).
“The rise in UHNWIs in Malaysia is attributed to the country’s strong economic expansion despite global uncertainty and energy price fluctuations, supported by the ringgit’s continuing performance and an active capital market, with listings growing year-on-year since 2020,” said Knight Frank Malaysia group managing director Keith Ooi in a statement today.
According to Knight Frank’s Prime International Residential Index, luxury residences in Kuala Lumpur showed a stable appreciation, growing by 1.1 per cent in 2025, in line with the residential segment’s steady performance in recent years.
Transactions rose by 5.4 per cent, from 399,008 in 2023 to 420,545 in 2024.
It said Kuala Lumpur’s stable growth rates reflect divergent movements across the Asia Pacific region, with values in Hong Kong falling 2.1 per cent in 2025, while Singapore continued to set record prices exceeding US$6,000 per square foot (psf) (RM23,782 psf) with 7.9 per cent growth.
“We’re looking at a mixed outlook for 2026, as supportive housing reforms such as the proposed Real Property Development Act, as well as the Transforming and Empowering Data Usage in Housing (TEDUH) platform, would buoy dampened market sentiment amid wider uncertainty.
“Against this backdrop, prime residential assets continue to hold their value, though private capital and institutional investors may look into diversification to mitigate risks,” said Adrian Yeoh, Knight Frank Property Hub’s International Project Marketing executive director.
