Malaysia's Billionaire Class To Grow 39 Pct By 2031

Malaysia’s billionaire population is projected to grow by 39 percent by 2031, according to Knight Frank’s *The Wealth Report*. This growth reflects a five-year increase of 20.1 percent in ultra-high-net-worth individuals (UHNWIs), rising from 1,566 in 2026 to 1,881 by 2031. This marks a significant rise compared to the previous five-year growth rate of 6.5 percent (2021–2026). The rise is attributed to Malaysia’s strong economic expansion despite global uncertainties and energy price fluctuations. The Malaysian ringgit’s performance and an active capital market, with year-on-year listings since 2020, also contribute to this growth. According to Knight Frank’s *Prime International Residential Index*, luxury residences in Kuala Lumpur showed stable appreciation, growing by 1.1 percent in 2025. Transaction volumes rose by 5.4 percent, from 399,008 in 2023 to 420,545 in 2024. While Hong Kong’s residential market declined by 2.1 percent in 2025 and Singapore set record prices exceeding US$6,000 per square foot, Kuala Lumpur’s market remains stable. The outlook for 2026 is mixed, with supportive housing reforms like the *Real Property Development Act* and the *Transforming and Empowering Data Usage in Housing (TEDUH)* platform expected to boost market sentiment amid broader uncertainties. Private and institutional investors may diversify to mitigate risks, though prime residential assets are expected to hold their value.