Top 5 Things Malaysians Consider When Buying A Property

Before you sign on for a property purchase, make sure you take note of the location, distance from office/workplace, proximity to public transportation networks, security and safety, and the price per square foot!
buying property, location, safety, price per square foot, buying house, Malaysia property

Buying a home is a big commitment, so make sure you are ready before making that big leap. The first step is to understand what makes a property worth buying.

Don’t fret if you are a first-timer as we have made that process easier by highlighting results of the PropertyGuru Sentiment Survey H2 2018.

By breaking down the top 5 reasons Malaysians have selected as important and influential during the buying process.

So, let’s jump right into it so you can make confident and informed property decisions today!

 

1) Location

buying property, location, safety, price per square foot, buying house, Malaysia property

The mantra “Location, Location, Location” still holds true in the real estate scene as the most crucial factor when buying a property. So, remember that “location is king”!

In the survey, 85% of respondents choose location to be the primary factor when buying a property and has been the top preference even in the previous surveys.

Therefore, in your home-searching journey, identify which are the areas that make the best location for your home.

Discover a place you’ll love to live.

AreaInsider

Discover a place you’ll love to live.

 

2) Distance from office/workplace

buying property, location, safety, price per square foot, buying house, Malaysia property

Many Malaysians are placing importance with the distance of their home from their workplace.

This trend is picking up among urbanites with 58% of respondents voicing it as the top 2nd factor when buying a property.

Spending unnecessary time commuting from and to work is a deterrent for many homebuyers as emphasis on quality of life is becoming more important.

Moreover, if you live and work at the other end of the city, there will be additional expenses for tolls, petrol, and car maintenance to be factored into.

Therefore, make sure to calculate all these additional costs (short-term and long-term) when looking for a house.

 

3) Proximity to public transportation networks

Yes, 49% Malaysians have voiced that properties close to public transportation are the top 3 priority when it comes to looking for a property.

This stance is becoming popular since the LRT & MRT development have taken shape in Klang Valley making properties closer to rail networks more desirable.

After all, these properties always have more pros than cons. Properties close to public transportation are always sought-after for live in, rentals, and investing.

 Properties Close To Rail Networks

Guide

Properties Close To Rail Networks

 

4) Security and safety

buying property, location, safety, price per square foot, buying house, Malaysia property

Malaysians cannot stress how important safety is and having peace of mind in one’s home will always be a priority.

Just look at how many grills and alarm systems each household has invested in.

But if you have the best security system and prevention to ward of crime and theft but still live within a ‘dingy’ neighbourhood, then you are asking for trouble itself.

43% of respondents said the criterion for security and safety/ location and area is the fourth necessity when buying a property.

Therefore, be sure to inspect the area or speak to the local police in command to understand the safety of the area before jumping into a purchase.

Safety Tips

Guide

Safety Tips

 

5) Price per square foot 

buying property, location, safety, price per square foot, buying house, Malaysia property

A new swing of residential offerings in urban and prime locations consisting of shoebox units are gaining popularity because land is scarce in denser areas.

This is leaving many buyers with very few alternatives to buy decently sized homes within their affordable range in urban areas.

Therefore, 41% voiced that price-per-square-foot (psf) is the top 5th factor considered when buying a property.

After all, Malaysians value their purchases very seriously and would want the best price that is worth their long-term financial commitment.

 Find The Best Property That Suits You

Guide

Find The Best Property That Suits You

 

For slightly seasoned property seekers, you may want to check this out instead:
6 Factors When Buying Property In Malaysia

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