KUALA LUMPUR – A majority of Malaysians believe that this is a good time to buy a house or an apartment, as they expect property prices to rise by December 2022, according to a survey by real estate tech firm, Juwai IQI.
The survey, conducted from September 28 to October 21, 2021, also revealed that buyer preferences had changed dramatically during the pandemic.
“Consumers are very positive about home prices over the next 14 months. Undoubtedly, some consumers feel an urgency to buy before prices climb further,” said Juwai IQI co-founder and group chief executive officer Kashif Ansari in a statement today.
He noted that Covid-19 has changed Malaysians’ preference in terms of their living arrangements, as 83% of the respondents now feel that a home office or study space is more important.
Having a larger home has become more important for 72% of respondents and private green space is more important for 68% of respondents,” he said.
Kashif said today’s house buyers have an intense desire for space to work from home because of the long lockdown.
In response, many developers are re-drawing floor plans for their new projects.
“In some cases, they are choosing to build where land is cheaper so they can afford to offer larger homes,” he added.
The survey also revealed that 64% of respondents believe that being close to the central city is more important today than before the pandemic.
“Meanwhile, 60% said that being close to a hospital or a clinic is also more important than before Covid-19 struck,” he said. – Bernama, October 27, 2021
