The super rich of Malaysia intend to become even richer by investing in property overseas.
According to the 'Wealth Report 2018' released by property consultancy firm Knight Frank, approximately 43 per cent of Malaysia's wealthiest have plans to invest in other property markets
over the next few years.
This may not come off surprising since they are, after all, super rich even when times are tough for the rest of us
a.k.a the poor
But do take note that this percentage is reportedly higher than the global average of 34 per cent
Some of their favourite countries are Australia, Singapore and the United Kingdom.
Besides stepping into greener pastures overseas, 45 percent of rich Malaysians are considering investing in property locally, which is again higher than the global average of 43 per cent.
These proposed property acquisitions do not include a primary residence or second home.
Now if you're wondering how rich exactly is 'super rich', Knight Frank identifies them as people with a personal net worth of more than USD50 million (RM193 million)
in net assets, as reported by Free Malaysia Today
Surprisingly, these potential property investments don't include primary residence or second home.
One of the main areas of interest of this group of rich people is actually student accommodation
, particularly in the U.K., since there is an increasing number of students there but under-supply of housing.
Not bad, Malaysians! As for the rest of us, we'll need to keep on hustling.