จดหมายข่าว

For years, the “10% down-payment rule” has been one of the biggest psychological and financial barriers to homeownership in Malaysia. The assumption was simple: no large cash reserve, no entry. Budget 2026 changes that narrative, placing greater emphasis on financing accessibility rather than affordability alone. With enhanced policy tools now in place, aspiring homeowners may no longer need to delay their plans until they have saved a significant lump sum—provided they understand how to use the right mechanisms strategically.The key financial levers in 2026 include the expanded Housing Credit Guarantee Scheme (SJKP) with up to 120% guarantee coverage, full stamp duty exemptions for eligible first-time buyers, and strategic use of EPF (KWSP) as a liquidity bridge. Together, these tools can significantly reduce upfront cash requirements and improve purchase feasibility, subject to eligibility and bank assessment. The real question in 2026 is no longer how fast one can save 10%, but which combination of tools best fits individual income profiles and cashflow. Buyers who assess their SJKP eligibility early, confirm stamp duty relief, and plan EPF usage responsibly will be best positioned to turn homeownership from intention into action.Download the full report for deeper market insightsDownload

Johor’s property market continues to expand, but the focus is shifting from pure growth to infrastructure readiness. According to Kashif Ansari, Co-Founder and Group CEO of Juwai IQI, the defining issue shaping real estate decisions is no longer just location or pricing, but access to electricity and water. As highlighted in coverage by Astro Awani and Bernama, developments without secured utility access are facing rising uncertainty, while infrastructure-ready land is gaining premium value.This shift is being accelerated by Malaysia’s rapid emergence as a regional data centre hub. Data centres are intensive users of power and water, and according to global insights from the International Energy Agency, demand is growing faster than supporting infrastructure can be delivered. Mr Ansari describes this imbalance as a “power pinch,” already influencing developer site selection, investor risk assessment, and project design. While Johor sits at the centre of this trend, the implications extend nationwide, signalling that infrastructure availability will increasingly guide pricing, timing, and momentum across Malaysia’s property market.Download the full report for deeper market insightsDownload

As February 2026 unfolds, the global economy is showing encouraging signs of stability, supported by steady GDP growth forecasts and accommodative monetary policy across major markets. Emerging economies particularly in Asia and parts of Latin America are expected to drive much of this momentum. While geopolitical tensions have introduced some uncertainty, markets have remained resilient, with investors gravitating toward structural growth themes such as technology, renewable energy, and advanced manufacturing. At the same time, gold and precious metals are quietly strengthening, reinforcing their role as effective portfolio hedges.In this environment, success favours investors who stay anchored to fundamentals anddiversification. Balancing growth assets with defensive allocations like fixed incomeand alternatives helps manage volatility while preserving upside. Real estate continues tostand out, especially in multifamily housing, logistics, and niche commercialsegments, where long-term demand and tight supply support income potential. Withfinancing conditions improving in select markets, 2026 is shaping up to be a year wherediscipline, agility, and thoughtful diversification turn uncertainty into opportunity.Download the full report for deeper market insightsDownload

Markets Re-Enter an Age of Alchemy The year has barely begun, yet the alchemy of global markets has already shifted. Rising geopolitical risk, the resurgence of AI-led capital expenditure, buoyant equity markets, and precious metals at stratospheric levels are rapidly reshaping the investment landscape.Investors are no longer chasing growth at any cost. Priority has shifted to growthwith peace of mind, capital deployed with durability, visibility, and long termsustainability, rather than fleeting momentum. Artificial intelligence has reentered the cycle with conviction. This phase is infrastructure driven, capitalintensive, and productivity enhancing, positioning AI as a powerful GDP catalyst over the next three to five years, particularly across ASEAN, the GCC, and parts of Africa, where policy alignment and digital adoption are accelerating.At the same time, history is reasserting itself. The 1970s are back in style. Inflationsensitivity, geopolitical fragmentation, and currency debasement have restored realassets to center stage. 2026 is shaping up to be the year of tangibility. Gold and silver are heading toward vertiginous levels, while real estate has evolved into a new global currency, offering inflation protection, yield resilience, and geopolitical optionality.Markets evolve; technologies advance but history repeats. Those who grasp the convergence of innovation and real assets will be best positioned for the next phase of global economic realignment.US EQUITY MARKET OUTLOOK: OVERVALUED AT PRESENT.U.S. equities are at historic valuationextremes expectations elevated, riskpremiums compressed. The Buffett Indicator above 210% signals assets priced for perfection, driven by AI exuberance, mega-cap concentration, and excess liquidity. Buffett’s USD 330 billion cash pile says it all: at peaks, liquidity is strategy. History is clear—after valuation extremes, Real assets outperform through preservation, not speculation.FASTEST GROWING ECONOMIES IN 2026 - OECD OUTLOOKThe latest OECD Economic Outlook (December 2025) revealed that the global economy has proved resilient last year, even though fragilities remain, with a range of risks including "elevated policy uncertainty and rising barriers to trade". According to the organization's forecasts, global GDP growth is projected to slow down from 3.2 percent in 2025 to 2.9 percent in 2026. As our infographic shows, among G20 economies (together accounting for around 80 percent of global GDP), some countries are expected to continue growing at a pace well above the average.India tops the list, with a real GDP growth expected to exceed 6 percent again this year (6.7 in 2025; 6.2 in 2026), driven by robust domestic demand, digital transformation andmanufacturing growth. Indonesia follows at 5.0 percent (rate in 2025 and 2026), leveraging its young workforce and commodity exports. China, though facing structural slowdowns, remains a key player with 4.4 percent economic growth projected this year (after 5.0 percent in 2025). Saudi Arabia follows closely at 4.0 percent, buoyed by oil revenues and ambitious economic diversification efforts under the "Vision 2030" national planTOP COUNTRIES HOLDING RARE EARTH IN THE GLOBALWorld's Largest Rare Earth Reserves. Rare earths are crucial for EVs, wind turbines, smartphones, batteries, and defense tech. They are heavily concentrated:China holds nearly half the world’s known reserves and even more dominance in actualmining and refining (~85–90% of processed rare earths). This concentration is a majorstrategic vulnerability for the West, driving efforts to develop alternatives. Greenland’sreserves are increasingly in focus especially with US interest in Arctic resources.Download the full report for deeper market insightsDownload

As inflation eases and interest rates gradually decline, 2026 is shaping up as a more supportive year for real estate capital. Forecasts point to modest but resilient global growth, improving affordability, and a recovery in transaction volumes, particularly in markets where demographics, infrastructure spending, and policy reforms align.1. Interest Rates and Buyer Activity Central banks in several advanced and emerging economies are expected to continue a controlled rate-cutting cycle into 2026, which improves mortgage affordability and refinancing conditions. Lower borrowing costs typically stimulate residential transactions and reduce financing pressures for investors. Strategic regions benefiting: Malaysia, Thailand, Vietnam, UAE and Saudi Arabia, where monetary policy and household demand remain relatively constructive.2. Secondary and High-Growth Cities Capital is rotating from expensive global gatekeepers toward secondary and rising cities with stronger affordability and infrastructure upgrades. Southeast Asia demonstrates this shift with accelerating urbanisation, young populations and improving transport networks. Strong examples: Ho Chi Minh City and Hanoi in Vietnam, Bandung and Surabaya in Indonesia, Penang and Johor in Malaysia, Greater Bangkok in Thailand and tier-two tech corridors in India.4. Supply Constraints and AffordabilityConstruction pipelines remain limited due to financing costs and labour constraints, particularly in rapidly growing cities. When population growth or foreign demand remains strong, constrained supply supports rental growth and long-term capital values.Investment angle: Residential and rental housing in Vietnam, Malaysia, Indonesia and the UAE continue to show healthy absorption rates and favourable replacement economics.5. Alternative Property SectorsInvestors are increasingly directing capital to sectors tied to long-term structural demand such as logistics, data centres and healthcare or education-linked real estate. These assets deliver longer leases and diversified income streams.High-potential plays:Singapore and Johor for data centres due to cloud investment and power availability.Dubai and Riyadh for logistics and industrial linked to e-commerce and trade.Bangkok and Kuala Lumpur for healthcare, student living and senior living opportunities.6. Affordable and Purpose-Built RentalsAffordability pressures in major Southeast Asian and Gulf cities are supportinginvestor interest in build-to-rent, multi-family and long-stay serviced apartments.These sectors provide defensive rental income, extended tenancy duration and strong occupancy resilience.7. Technology and AI in Real EstateAdoption of AI and data platforms is improving underwriting, pricing transparencyand cross-border transactions. Digital tools are widening access to internationalmarkets and enabling investors to compare yields, occupancy and risk in real time.Macro Risks to MonitorThe recovery trajectory remains uneven across regions. China’s ongoing propertyadjustment continues to weigh on sentiment in North Asia. Geopolitical uncertaintiesand public debt pressures may occasionally disrupt capital flows. Strong balance sheetsand income visibility remain key.Download the full report for deeper market insightsDownload

Dubai has transitioned from an emerging property market to a globally relevant destination for real estate capital. For affluent and high-net-worth investors in ASEAN, it now features a diversified international property allocation strategy due to its macro stability, tax-efficient structure, global demand base, and robust fundamentals.Political and economic stability are among Dubai’s foundational strengths. The UAE’s policy of continuity and strong governance, supported by a US-dollar-pegged currency, reduces foreign-exchange risk and attracts international capital seeking reliable returns. Dubai’s legal framework for property ownership especially freehold rights for foreigners further enhances investor confidence. Tax efficiency is another structural benefit. There is no annual property tax, no capital gains tax on property sales, and no inheritance tax on real estate. Coupled with clear regulatory protections such as escrow accounts and title deed transparency, this improves net investor returns compared to many mature markets.Dubai’s market also benefits from diverse global demand with buyers from the Middle East, Europe, Africa, South Asia, and Southeast Asia supporting liquidity and exit flexibility. Demand is underpinned by genuine urban fundamentals: global transport connectivity, population growth, tourism appeal, and sustained rental demand.The market continues to deliver competitive yields and strong transactional growth, as reflected in the latest market data. These indicators underscore a market with growing value, solid transaction momentum, and attractive income potential, affirming Dubai’s appeal as a core component of international real-estate portfolioDownload to see insights from other country marketsDownload

Canada’s real estate market closed 2025 in a more balanced and stable position, supported by earlier interest rate cuts, easing inflation, and gradually improving buyer confidence. Across major cities, conditions varied but remained resilient: the GTA saw steady demand within a well-supplied market, Vancouver experienced elevated inventory with limited price pressure, and Montreal continued to outperform, driven by favourable financing conditions and population growth. Overall, the national market ended the year on solid footing, setting a measured tone for 2026. At the city level, Toronto closed December 2025 with lower year-on-year sales and prices, but rising listings and improving affordability are positioning the market for a potential recovery once economic confidencestrengthens. Vancouver remained firmly buyer-friendly, with high inventory levels and softer sales keeping conditions balanced-to-soft. Quebec continued to show resilience, with stable transaction activity and price growth supported by strong demand for multi-unit and urban housing. Taken together, Canada’s housing market is entering 2026with greater stability, improving affordability trends, and pent-up demand that could support activity as confidence returns.Download to see insights from other country marketsDownload

In November, Hong Kong’s residential market saw a 2.2% decline in transaction volume but a 1.2% rise in total consideration to HKD 51.7 billion. Mass residential capital values continued their 0.6% m-o-m rise, marking the third consecutive month of increases. Developers have been actively launching new projects, reducing unsold inventory. Theexpected supply months for the end of 2025 is forecasted to drop to 51.3 months, from 67.4 months in 2024. The luxury market saw a sale at Deep Water Bay Road 39, fetching HKD 342 million, marking a 2.8% loss from 2015.Retail sales grew by 6.9% y-o-y in October, with electrical goods and food categories showing strong resilience. Inbound visitor arrivals surged by 12.2% y-o-y, with Taiwan seeing the strongest increase. The leasing market remained active, with major deals like HSBC leasing space in Causeway Bay for HKD 4 million per month. Investment activity slowed, with Uni Investment Development Ltd acquiring a property in Kowloon Bay for HKD 131.8 million, yielding 7.3%.Download to see insights from other country marketsDownload