MHub, Malaysia’s leading digital real estate marketplace, has announced a partnership with Juwai.com, China’s largest international property website, to attract Chinese buyers looking to purchase homes in Malaysia.
With Chinese investment in Malaysia’s residential real estate expected to double by 2025, the agreement will give local property sellers access to Juwai.com’s more than 3.1 million monthly users.
According to Juwai.com, buyers from mainland China purchased RM9.5 billion worth of Malaysian residential and commercial properties last year. More than four-fifths of the investment was in the residential sector. The agreement between MHub and Juwai.com will make it much easier for them to shop for houses in Malaysia.
“It is an exciting time ahead for the Malaysian and Chinese property sectors. The alliance of MHub and Juwai.com aims to expand the addressable market for property sellers in Malaysia. Our Proptech platform brings the ecosystem of developers, agents, bankers, lawyers, and buyers under one roof to enable faster, simpler and safer property sales transaction.” said Quek Wee Siong, Co-founder and Chief Executive Officer of MHub.
“Malaysia’s identity as a Belt and Road country and the revival of the ECRL plan will encourage greater Chinese real estate investment. Malaysia already ranks as the sixth most popular country for Chinese residential property buyers on our platform, up from 10th a year ago. We have also seen Chinese make 255 percent more buying inquiries in Malaysia in the first quarter of 2019, compared with the same quarter of 2018. As such, we expect Chinese acquisitions of Malaysian real estate to grow in 2019.” said Juwai.com CEO and Director Carrie Law.
Juwai.com is the No. 1 Chinese international property portal and is the exclusive international property partner of Tencent, the Chinese Internet giant that operates WeChat. Juwai.com reaches more than 3.1 million Chinese-speaking monthly users and showcases 2.8 million listings from 90 countries. Juwai.com was named the top international real estate website in China by the country’s peak e-commerce body for two years running and is a winner of the prestigious Red Herring Global Top 100 Award for excellence in startups. The company’s headquarters are in Shanghai and Hong Kong. Regional teammates are located in the US, the Philippines, Thailand, Malaysia, and Australia.
As a digital real estate platform that has transacted close to RM8 billion worth of properties since its inception, MHub focuses on intelligent solutions to simplify the property sales and purchase process between bankers, buyers, developers and agents. Using real time certified data, MHub’s platform significantly reduces the turnaround time for credit checks and loan applications from days to minutes, significantly improving the process for all parties. MHub was also the co-developer of Southeast Asia’s first online mortgage pre-qualifier tool powered by CTOS, Malaysia’s leading credit reporting agency.