Kuala Lumpur 27 October 2021 — Juwai IQI today released findings from its new survey of Malaysian consumers that could shake up the real estate market. The survey revealed that Malaysians believe property prices will climb higher by December 2022 and that buyer preferences have changed dramatically during the pandemic.
Juwai IQI Co-Founder and Group CEO Kashif Ansari said:
“The survey, conducted from September 28 to October 21, 2021, asked consumers if they believe real estate prices will be higher by the end of 2022. Eighty-seven per cent of respondents said, ‘Yes.’
“The ratio was almost identical for both male and female respondents. That is a change from past surveys, when men were almost uniformly more optimistic than women about property prices.
“We also asked the survey takers if they believe this is a good time to buy a house or an apartment. Ninety per cent of respondents believe this is a good time to buy. Consumers are very positive about home prices over the next 14 months. Undoubtedly, some consumers feel an urgency to buy before prices climb further.
“Covid has changed the way Malaysians want to live. Buyer preferences today are dramatically different than before the pandemic. What Malaysians would like to have in their homes has significantly changed. The need to have more space in a home has become a top priority for many buyers.
“A total of 83% of respondents say that a home office or study space is more important than before the pandemic. Having a larger home has become more important for 72% of respondents. Private green space is more important for 68% of respondents.