KUALA LUMPUR, March 4 -- The number of high-net-worth individuals (HNWIs) in Malaysia is on the rise, aligning with a global trend of increasing wealth accumulation, according to Knight Frank's Wealth Report.

It it, the real-estate consultancy said Malaysia's growing ultra-wealthy population is also driving demand for luxury real estate and prime commercial properties.

"The growing population of high-net-worth individuals in Malaysia is reshaping the local real estate market," said Dominic Heaton-Watson, Associate Director - International Residential at Knight Frank Property Hub.

HNWIs worldwide grew by 4.4 per cent in 2024, with North America leading at 5.2 per cent, followed by Asia at 5 per cent, Africa at 4.7 per cent, and Australa...