It said Malaysia’s ultra-high-net-worth individuals (UHNWIs) are projected to showcase a five-year growth of 20.1%, 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% (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,” Knight Frank Malaysia group managing director Keith Ooi said 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% in 2025 in line with the residential segment’s steady performance in recent years.

Transactions rose by 5.4%, 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% in 2025, while Singapore continued to set record prices exceeding US$6,000 per square foot (RM23,782 psf) with 7.9% 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 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.