NEW STRAITS TIMES. 14TH MARCH: When it comes to purchasing a home to live in, home seekers prefer properties located on the city’s outskirts because they are quieter, have better pricing, more greenery, and larger-sized homes, according to PropertyGuru Malaysia’s latest biannual Consumer Sentiment Study for H1 2022.
The study showed that more than half (55 per cent) of Malaysians surveyed were looking for properties outside the city centre due to the Covid-19 pandemic.
According to Shylendra Nathan, country manager for Malaysia (PropertyGuru.com.my and iProperty.com.my), the growing preference for such properties directly reflects the pandemic-fueled remote working trend.
One in every three Malaysians surveyed is currently working from home and intends to continue after the pandemic.
Shylendra said this influences the perceived importance of having a home office space.
Most Malaysians (79 per cent) believe it is critical to have extra room when developing new properties, even after the pandemic, he said.
“At the start of Covid-19, Malaysians weren’t sure whether their companies’ work from home policies are permanent or just a reaction to the mandated lockdowns. Now that they are confident the flexible working arrangement is here to stay, more Malaysians are open to moving to the suburb to enjoy larger spaces at lower prices. A longer commute to the office is an acceptable compromise for them if they don’t have to make the trip daily, as the advantages of living in the outskirts of the city still outweigh the drawbacks,” he said.
In terms of the process of finding and purchasing a home after the pandemic, two out of every three Malaysians said they would be comfortable shortlisting and viewing properties online. At the same time, more than one-quarter of respondents would feel at ease signing the sales agreement online.
“Ten per cent Malaysians are comfortable conducting all the purchase functions online from start to end, indicating the need for the property industry to accelerate their digital adoption to meet the evolving consumer behaviours,” he said.
In terms of the process of finding and purchasing a home after the pandemic, two out of every three Malaysians said they would be comfortable shortlisting and viewing properties online. At the same time, more than one-quarter of respondents would feel at ease signing the sales agreement online.
“Ten per cent Malaysians are comfortable conducting all the purchase functions online from start to end, indicating the need for the property industry to accelerate their digital adoption to meet the evolving consumer behaviours,” he said.