FOR IMMEDIATE RELEASE
- Sellers face issues in determining a property’s current asking price and are uncertain of the right time to sell and obtain optimal profits
- Buyers find it challenging to find a property at the right location and price
- Accurate transaction data offers consumers valuable insights into the right price range to transact or sell a property
KUALA LUMPUR, 16 JUNE 2022 – iProperty.com.my has revisited the most common issues consumers encounter when researching properties for buying and selling. One of the primary issues is determining a property’s current asking price – this has resulted in concerns of overspending on or underselling a particular property, making consumers less likely to follow through with their purchasing or selling decisions.
Specifically for homebuyers, determining the right location to buy into is an issue they encounter in their property research journey. The inability to pinpoint a suitable neighbourhood, within a reasonable amount of time may result in buyers not being able to find a property that suits their budget. For home sellers, determining the right time to sell to obtain optimal profits is an ongoing issue. Pricing a property for sale is dependent on the asking prices of similar properties within the same area. Hence, setting the wrong asking price might drastically reduce their chances of selling their properties.
Shah Rubhen, Director, Malaysia Product at iProperty.com.my, said, “Purchasing or selling a property is a huge commitment that requires proper research and due diligence – and transaction data plays a key part in this research. Accurate transaction data not only provides consumers with a gauge of the right price to buy or sell, but it also empowers consumers to become more confident when negotiating with property agents, buyers, or sellers.”
“It should be pointed out that although subsale property transaction data is readily available online, many consumers face roadblocks when conducting their property research. For example, we are still seeing various news and reports about property sellers find it challenging to offload their properties due to the buyer-seller price gap. One reason could be the lack of a seamless platform that provides consumers with up-to-date asking price data. The difficulty of finding these data or ‘information overload’ from various sites might delay or discourage consumers from buying or selling properties.”
iProperty Transactions Section: Discover the most accurate and comprehensive property data
iProperty Transactions Section provides the latest, accurate transaction data for Malaysia’s subsale residential, commercial, industrial, and agricultural properties. Powered by brickz.my, consumers can instantly see a particular property’s latest 12-month transaction data – where the data can be filtered down by its built-up size, property type, median price, the median price per sq. ft. (psf), and property tenure. To obtain more macro insights, consumers can also search for transaction data of a certain property type in their state or area of choice. In addition, consumers can view property listings for sale and rent, making it easy for them to read property descriptions, check transaction data, and consider the available properties on one platform.
The recently launched iProperty Transactions Section is designed to bolster consumers’ research process and help them make informed decisions when buying or selling a property. For example, homebuyers can compare various subscale property asking prices advertised on property listings with the latest transacted prices to give them an idea of how fair or wise a property purchase price is. At the same time, they can search for a suitable property or area that fits their price point. Meanwhile, home sellers can determine the right asking price or to negotiate with a homebuyer. In addition, iProperty Transactions Section allows home sellers to analyse market trends and historical transaction data to solidify their decisions.
Commenting on the features of the iProperty Transactions Section, Shah Rubhen said, “The iProperty Transactions Section aims to help consumers in their property journey with actual property transacted data that may be previously inaccessible, outdated or difficult to obtain. We also bring accurate and trusted transaction data directly to consumers to give them the edge, knowledge and confidence to be more proficient in their property research. More importantly, these data points are available on one convenient platform, allowing consumers to conduct property research quickly and effectively.”
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iProperty.com.my is headquartered in Kuala Lumpur, Malaysia and employs over 200 employees. iProperty.com.my is the market-leading property portal, offering a search experience in both English and Bahasa Malaysia. iProperty.com.my also provides consumer solutions such as LoanCare – a home loan eligibility indicator, Transactions Section – a feature on iProperty.com.my that provides the latest and most accurate transaction data for subsale property, News & Lifestyle channel – content to enhance consumers’ property journey, events – to connect property seekers with agents and developers offline, and much more. The company is part of PropertyGuru Group, Southeast Asia’s leading property technology company.1
For news related to iProperty.com.my, visit www.iproperty.com.my/newsroom and discover residential property demand and trends, tech and product updates, and more.
1In terms of relative engagement market share based on SimilarWeb data.