Malaysia’s billionaire population is set to grow 39% by 2031, earning the country the fifteenth rank among nations with more than five billionaires in 2026, according to The Wealth Report, Knight Frank’s flagship publication covering global perspectives on prime property and private wealth. 

The projected rise mirrors dramatic acceleration in wealth creation worldwide, despite geopolitical uncertainty, rising interest rates and uneven economic performance. The number of ultra-high-net-worth individuals (UHNWIs) worldwide with assets worth more than US$30mil (RM118.70mil) increased by 162,191 between 2021 and 2026, equivalent to 89 new UHNWIs every day. 

“A cohort of fast-maturing economies that are now shaping the global landscape and despite huge geopolitical shocks and inflationary pressures, private capital has shown extraordinary resilience. Our latest results reflect a deep structural acceleration in wealth creation worldwide,” said Knight Frank global head of research Liam Bailey. 

In Malaysia, domestic UHNWIs are projected to showcase 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% from 2021 to 2026. This compares to comparable rates of 24.3% for the Asia-Pacific region as a whole from 2025 to 2031. 

“The rise in ultra-wealthy individuals in Malaysia is attributed to the country’s strong economic expansion despite global uncertainty and energy price fluctuations. This was supported by the Ringgit’s continuing performance and an active capital market, with listings growing year-on-year since 2020,” said Knight Frank Malaysia group managing director Keith Ooi. 

Meanwhile, luxury residences in Kuala Lumpur showcased stable appreciation, growing by 1.1% in 2025 according to Knight Frank’s Prime International Residential Index (PIRI 100). The performance is in line with the residential segment’s steady performance in recent years, as transactions grew 5.4% from 399,008 in 2023 to 420,545 in 2024.

“We’re looking at a mixed outlook in 2026, as supportive housing reforms such as the proposed Real Property Development Act and Transforming and Empowering Data Usage in Housing (TEDUH) platform serve to 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 Knight Frank Property Hub international project marketing executive director Adrian Yeoh. 

The PIRI 100 tracks movements in luxury prices across the world’s top 100 residential markets. 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 psf (RM23,782 psf) with 7.9% growth. 

Safe havens in the spotlight

More investors are turning to safe havens abroad as volatility hedges amid ongoing political uncertainty, with Malaysia’s direct investment abroad (DIA) rising 65.0% quarter-on-quarter to RM2.8bil in Q4 2025. These movements are supported by ultra-mobility trends among the UHNWI segment which are reshaping buying patterns and boosting demand for super prime rentals as more UHNWIs spend fewer than 90 days per year in traditional hubs. 

“The emergence of safe-haven locations in gateway cities in markets such as the United Kingdom and Australia comes as ultra-wealthy individuals increasingly organise their lives across multiple jurisdictions, with family offices actively managing tax, lifestyle and political risk. Australia, in particular, continues to draw strong domestic interest, with Malaysians comprising the ninth largest source of investment in residential land in recent years,” said Yeoh. 

First launched in 2007, The Wealth Report is the ultimate guide to prime property markets, global wealth distribution, the threats and opportunities for wealth, commercial property investment opportunities, philanthropy and luxury spending trends. The 2026 report can be downloaded from https://kf-my.com/KF_TWR_2026.