Surprise! Malaysians are most satisfied with the property market compared to 5 years ago.
This positive sentiment was shown in the recent PropertyGuru Sentiment Survey H2 2018 that measures the following, among others:
- The current real estate satisfaction
- Real estate climate
- Long term growth potential
- Property prices
- Perceived government efforts
How Confident Are You With The Property Market?
With the new government in place, confidence in the real estate market has pushed up the satisfaction to 43% compared to 35% in H2 2013.
In the H1 2015 survey, confidence dipped to 25% but managed to regain back the assurance to 38% in H2 2017 and further increasing at each wave.
Overall, the property sentiment index has improved to 44 points this term compared to 37 points in H2 2016, making it once again, the highest ever recorded. In H1 2018, the index was at 39 points.
Top 3 Reasons Why Malaysians Are Satisfied With The Real Estate Market
The PropertyGuru Sentiment Survey H2 2018 was able to track down how satisfied respondents felt when it came to the property market and ranked ‘good long-term prospects for capital appreciation’ as the main reason for this sentiment.
Top reasons why Malaysians are satisfied with the property market:
- Good long-term prospects for capital appreciation
- Prices of property keep going up
- Happy that properties are well developed
- Good financing options
- Property market being resilient/stable
Top 3 Reasons Why Malaysians Are Dissatisfied With The Real Estate Market
Top reasons why Malaysians are dissatisfied with the property market:
- Properties are overpriced and expensive
- Prices keep going up
- Economy not performing well
- High-interest rates
- Government policies are restrictive/ unfavourable
The sentiment for ‘properties being overpriced and expensive’ still lingers as the highest dissatisfaction in the market while ‘prices of the property keep going up’ and ‘economy not performing well’ are among the other reasons for the discontent.
‘High-interest rates’ and ‘government policies are restrictive/ unfavourable to me’ were other reasons for the dissatisfaction.
Can Malaysians Afford A Home?
Malaysians are becoming aware of their affordability standing as seen in this wave – as an affordability perception was measured during this round of questions, a score of 56% was concluded.
What Do Malaysians Think About Their Affordability Level?
Though the perception for affordability is above average, 9 in 10 still consider property prices to be high.
When asked if respondents were able to purchase properties based on their level of income, 43% responded that they were somewhat able to buy.
What Type Of Housing Do Malaysians Like?
Popular type of housing Malaysians prefer:
- Terrace or linked homes
- Mixed-use developments
The popular type of house currently resided in is a terrace or linked homes followed by condos and flat/apartments.
Other types of homes in sequence from high to low that were favoured are semi-detached, bungalows, shophouses and mixed-used developments.
On demographics of respondents, the highest number representing the age group of between 30-39 years old, come from professional, managers, executives and businessmen (PEMB) backgrounds and are married with children.
The second largest pool consists of singles followed by those who are married has an intention to purchase a property and are of ages between 21-29.
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