From the most well-established areas that have been a staple of home seekers’ lists for decades, to the more recent areas which are developing rapidly – Malaysians have been looking for top-quality neighbourhoods to build a home in.
So, we decided to take a look at some of June’s most popular locations and property developments, based on information taken from PropertyGuru’s data and the Malaysia Consumer Sentiment Study H2 2020 report.
Here’s hoping that you’ll be able to gain some valuable insight, which will help you on your own homebuying decisions. Without further ado, let’s begin!
According to this report, 66% of Malaysians are looking for a property in Klang Valley, which is the undisputed area champion of all time, thanks to its wealth of job opportunities, a myriad of amenities, fantastic network of highways, and excellent public transportation connectivity.
Coupled with the fact that the number of COVID-19 cases in the country are already on the decline, it’s no surprise that there’s a healthy buying intent now, thanks to the improving market sentiments.
Buying Not Just A House, But A Home
Surprisingly, apart from the usual factor of “location”, there are 4 other top features which have now become more important when buyers are looking for their new homes:
- Proper ventilation and natural lighting
- Low project density
- Reputation and financial stability of the developer
- High speed internet infrastructure and Internet of Things (IoT) fixtures
All of the above have led to Malaysians expanding their search to other parts of Klang Valley for these features, as they would also need to take their budgets into consideration.
This would corroborate with our findings that the most popular Project Reviews on PropertyGuru for June 2020 were those that were located in areas much further away from the city centre:
- Eco Grandeur in Kuala Selangor, with +3.08% MoM
- Eco Majestic in Semenyih, with +1.84% MoM
- The Tropika in Bukit Jalil, with +1.11% MoM
- Kiara Bay in Kepong, with +1.00% MoM
- Sky Awani Residence 2 in Sentul, with +0.85% MoM
- Sunway Serene in Petaling Jaya, with +0.84% MoM
The figures above are derived from the organic traffic (increase Month-on-Month) to the Project Reviews, and paired with findings from PropertyGuru Analytics on number of enquirers.
In addition, according to the Consumer Sentiment Study report, more than 3 out of 4 Malaysians are now on the lookout to buy a property, with 79% of those respondents searching for a new project, as compared to 54% looking for a subsale property.
This ties in with the fact that the areas mentioned above still have room for further development, in terms of infrastructure and amenities (with the possible exception of Petaling Jaya).
The 6 projects are also undertaken by some of the most reputable and reliable property developers in the country: Eco World Development Group Bhd for the first two; then Berjaya Golf Resort Bhd (a subsidiary of Berjaya Land), UEM Sunrise Bhd, Sky World Development Sdn Bhd, and Sunway Property (a subsidiary of Sunway Group) respectively.
More Emphasis On Conducive Living
When it comes to the property type that home seekers seem to be having the most preference for, these were the top 3:
When we look back again at the report to better understand this behaviour, it turns out that 30% of respondents had the intent to purchase a property for more personal space, while another 30% of respondents were looking for greater convenience.
The former, especially, was more prevalent amongst those who live with their parents, and are from the age group of 22-29 year olds.
They weren’t the only ones; 36% of respondents from the middle-income group also placed an emphasis on more personal space.
For the latter, it would explain why the top 6 areas were chosen, as those are already somewhat established in their own rights, with ample amenities and infrastructure, as well as enjoying ease of access to the city centre and other major areas.
These 2 reasons would indicate that Malaysians are now looking at the bigger picture when it comes to buying a home, which is to ensure a better quality of lifestyle for themselves and their loved ones.
It would all drive home the point that these up-and-coming areas, which are enjoying better infrastructure and more well-planned townships by various top developers, deserve all the attention that they’re getting from home seekers.
What’s more, with a bigger land space available (due to the fact that they’re not yet as matured as areas like the Kuala Lumpur city centre) it allows for more landed properties that enjoy larger built-ups. More space for you, more space for the family!
Now, apart from the list of top 6 areas, there are also 3 more which respondents of the report have been keeping an eye on, which are Damansara, Subang Jaya, and the KL city centre.
As these are the more matured and well-known neighbourhoods that have been enjoying a steady stream of interested home seekers, it ties in with the finding from report that more than half of the respondents would also consider a subsale property. Old is still gold, okay!
If you’re one of those looking to buy a property in 2020, now’s a good time for you to check out the offerings in the Home Ownership Campaign (HOC), which allows you to enjoy a host of incentives such as a minimum of 10% discount on the purchasing price of registered properties!