JAKARTA - The number of super-rich people in Malaysia is expected to continue to increase. A Knight Frank report said that the jumbo asset group could reach 1,881 people by 2031.
Quoted by Malay Mail, Tuesday, April 28, citing Bernama, the projection was contained in Knight Frank's flagship report, The Wealth Report. The number of individuals with very high net worth or ultra-high-net-worth individuals in Malaysia is expected to rise from 1,566 people in 2026 to 1,881 people in 2031.
The increase reached 20.1 percent in five years. This figure is much faster than the growth period 2021-2026 which is only 6.5 percent.
Knight Frank Malaysia Group Managing Director Keith Ooi said the increase was supported by Malaysia's economy which continued to grow even though the world was still overshadowed by uncertainty and fluctuations in energy prices. The performance of the ringgit and an active capital market also contributed to the growth of the super-rich group.
Another signal comes from the property market. Based on the Prime International Residential Index Knight Frank, luxury residential prices in Kuala Lumpur rose 1.1 percent in 2025. The increase is small, but stable.
Property transactions also increased. The number increased by 5.4 percent, from 399,008 transactions in 2023 to 420,545 transactions in 2024.
In Asia Pacific, the luxury property market is moving differently. Hong Kong fell 2.1 percent in 2025. On the other hand, Singapore still has high prices, breaking through US$6,000 per square foot or about RM23,782 per square foot, with growth of 7.9 percent.
Knight Frank Property Hub International Project Marketing Executive Director Adrian Yeoh said the outlook for 2026 is still diverse. Housing reforms, including the proposed Real Property Development Law and the Shade platform, are considered to help support weakening market sentiment.
However, investors still count. According to Yeoh, premium residential assets are still able to maintain value. But private capital and institutional investors are likely to start looking for other options to share risks.
Knight Frank assessed that luxury housing in Malaysia still has strong value. However, private and institutional investors are still expected to seek other options to reduce risk.
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