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ios developer account(buyappleacc.com):Malaysians keen on new homes

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,“The pandemic’s effect on the way people plan their home life is more prominent among young Malaysians, low-income earners, and those currently living with their parents, who cited ‘needing more personal space’ as one of the top reasons of wanting to purchase a new home,” said PropertyGuru Malaysia country manager, Sheldon Fernandez.(pic)

PETALING JAYA: About 73% of Malaysians are looking to change their home situation after spending more time indoors due to Covid-19, according to PropertyGuru’s biannual Consumer Sentiment Study for the second half (H2) of 2021.

Of those surveyed, 38% want to renovate or repurpose certain areas of their home, while 35% were starting to think more about owning a home or moving out of their current location.

The study noted that the pandemic had impacted Malaysians’ perception of space at home, as three in four people (77%) now believe that it is important for new properties to have an additional room at home that can be used as a home office.

The increasing desire to own a home or move into a property that can meet their needs is especially high among renters (74%), individuals who live with their parents (63%), and those in the low-income group (50%).

“Malaysia has undergone various forms of lockdowns in the last 17 months, and this extended time at home has made more people realise the importance and benefits of having a space of their own, especially in the age of remote working.

“The pandemic’s effect on the way people plan their home life is more prominent among young Malaysians, low-income earners, and those currently living with their parents, who cited ‘needing more personal space’ as one of the top reasons of wanting to purchase a new home,” said PropertyGuru Malaysia country manager, Sheldon Fernandez, in a statement.

According to the study, the top-three reasons cited by those who wished to purchase a property were for investment purposes (43%), the need for more personal space (26%) and to take advantage of the current low-interest rates (27%).

It said the favourable interest rates and price outlook, as well as the high current real estate satisfaction, had boosted the overall Sentiment Index by three points from 42 in H1 of 2021 to 45 in H2 of 2021.

On the other hand, Malaysians’ sentiment on the current real estate climate had declined by three points from 35 in H1 of 2021 to 32 in H2 of 2021. ― Bernama


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