For Immediate Release
- The analysis provides a view of the current demand trends using the property portal’s user visits and property listings data in the Malaysian residential property market with a special focus on Kuala Lumpur, Selangor, Penang and Johor
- The analytics, prepared by compiling and analysing the data collected from iProperty.com.my, is the first of its kind that provides valuable insights for all relevant stakeholders and will align industry players with market sentiments to facilitate better decision making
- iProperty.com.my has invested one year of research, planning and information gathering to produce the analytics with data compiled from millions of visits each month
Kuala Lumpur, 23rd August 2019 – iProperty.com.my officially released an analysis of current property demands for residential properties in Malaysia. Titled, iProperty.com.my H1 2019 Portal Demand Analytics, the analysis provides a transparent macro view of the current demand trends using the property portal’s user visits and property listings data in the Malaysian residential property market with a special focus on Kuala Lumpur, Selangor, Penang and Johor. The four states contribute more than 60% of the majority of the transaction market share.
The analysis, with additional data compiled from brickz.my , aims to provide an insight for policy makers and property developers on Malaysian residential preferences. As the number 1 property portal in Malaysia, iProperty.com.my garners millions of visits each month. These real-time behaviours indicate where the nation’s residential demand (site visits) and, in comparison to supply (site listings) is leaning toward. Compiled and published for the very first time in Malaysia, these demand data points have never been accessible in the region before. Tailored to initiate conversations among stakeholders, this analytics also serves to align industry players with market sentiments to facilitate better decision making.
“The demand data presented in this analytics is a representation of consumer sentiments. We see a lot of reports and researches on the supply side, this analytics flips it around and looks on the demand side of things. It conveys information from the eyes of the consumer. It is a first of its kind and provides valuable insights for all stakeholders. With these analytics, we hope all relevant stakeholders would be able to analyse the insights to understand the local market preferences better, which are reflective of the market demand,” said Premendran Pathmanathan, General Manager of Customer Data Solutions, REA Group Asia.
Serviced Residences gaining popularity
Overall, the analytics indicates that there is an increase in both visits and listings at a national level; however, the growth in visits outpaced the increase in listings, resulting in the national property demand to increase by +4.1%. In line with the overall market sentiment on the property market, the theme for 2018 going into 2019 is affordability with more and more Serviced Residences coming into the market. This building type is slowly gaining ground due to its affordable pricing and its location in strategic areas.
Serviced Residences experienced the most significant growth in demand at +14.7%, contributed by visits shifting from Condominiums. However, Serviced Residences (with 11% of total visits) have some way to go before catching up to Condominiums (with 23% of total visits).
The analytics further adds that the attraction of Serviced Residences goes beyond affordability. The appeal is also having the right address, accessibility to public transportation and availability of commercial elements such as food and beverage outlets. Recent supply of this building type in the right locations have resulted in increased interest. Currently, Serviced Residences represents about 3% of the sub-sale transacted market share. Terrace Houses, on the other hand, have seen robust growth in demand by +3.7% (with 32% of total visits). Terrace houses, which consists of more than half of the transaction market share in Malaysia, is still the more popular building type and have also maintained a positive capital growth of +6.7% with a +3.7% growth in demand.
In summary, the analytics concludes that the top four housing markets in Malaysia, namely KL, Selangor, Penang and Johor; KL’s demand increased by +3.8%, Selangor at +9.8%, while Penang and Johor both dropped by -4.4% and -16.1% respectively. The number one most-in-demand areas in KL, Selangor, Penang and Johor are Batu Caves, Dengkil, Batu Kawan, and Batu Pahat respectively. The performance breakdown by states is further analysed in the analytics. As the leader in the local property listing industry, iProperty.com.my has dedicated almost one year of research, planning and information gathering to produce this exclusive analytics. This analytics will be the first edition and subsequent editions will be available in the future to provide invaluable insights into the local property market. Through big data technology, the analytics provides property owners and all relevant stakeholders comprehensive information about existing demand for certain projects.
Download the iProperty.com.my H1 2019 Portal Demand Analytics here.
About REA Group & iProperty.com.my
REA Group Limited is a global, digital advertising company specialising in property. The business is innovative and values-driven, and it has a team of more than 1,600 people, united by one common goal ‘to change the way the world experiences property’. REA uses new technology to deliver innovative products and experiences to all of our users around the world. In Australia, REA Group operates the number one residential, commercial, share and co-working property sites, realestate.com.au, realcommercial.com.au, Flatmates.com.au and spacely.com.au. This large audience of people looking to buy, sell, rent or share property provides valuable data and insights on how people search and find a property. REA also owns Hometrack Australia, a leading provider of data property services. As part of the Group’s financial services offering, REA also owns Smartline, one of Australia’s premier mortgage broking franchise groups. Asia is the world’s fastest growing property region and remains an important part of the Group’s global strategy. REA Group’s Asian operations include market-leading property portals in Malaysia (iProperty.com.my), Indonesia (rumah123.com), Hong Kong (squarefoot.com.hk and SmartExpo) and Thailand (ThinkofLiving.com). We also have prominent portals in Singapore (iProperty.com.sg) and China (myfun.com). The Group’s websites, apps, and property events deliver the most comprehensive set of real estate services across South East Asia. iProperty.com.my is headquartered in Kuala Lumpur, Malaysia. With more than 3 million visits each month, iProperty.com.my is the market leading property portal, offering a search experience in both English and Bahasa Malaysia. Currently, iProperty.com.my has over two million users monthly and the company wants to continue to innovate and ensure seamless consumer experience For more information on all things property, visit iProperty.com.my