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IDEAL home for Malaysians? The WHATs and WHYs.

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What’s an IDEAL Malaysian Home? We can ask me or we can ask a lot of Malaysians. LAFARGE and EdgeProp did a MYHOME survey to learn more. Here’s that infographic for our reference.  Briefly, these are some interesting results from the survey yeah. Perhaps this is why there are so many unsold units? My personal conclusion at the end of the article yeah.

Total respondents: 13,745

82.1 percent prefers a LANDED type of home. (Yes, this is just a survey about an ideal home yeah.)   Just like the most liveable city in the world does not need to be the same as the best place to retire. Here’s an earlier article: Best place to retire vs most liveable city

71.8 percent thinks SECURITY is a TOP PRIORITY. This is the reason why landed homes without any security arrangements versus landed homes with have a huge price difference today.

53.2 percent households have TWO cars. (Will this change in the near future? Perhaps unlikely because the government is not against people owning cars, unlike some countries where the policies are skewed towards having their population taking the public transport. By the way, policies may change, just like a major CHANGE we had recently in GE14.

45.5 percent wants 1,000 – 1,999 sq ft.  If given a choice, everyone wants a comfortable size. I think this is something doable but perhaps the government and the private developer may have to both discuss transparently on how to do this.

40.1 percent are okay with homes priced from RM400,000 – RM600,000  (Yes, Malaysians can definitely afford to buy within this range BUT they may not want to buy currently due to sentiment or the type of homes they want as their ideal home is not available… )

37 percent wants partially furnished – I would personally want my home to be partially furnished too. It’s lesser hassle for me too.

When we look at important amenities, it is quite clear that nearly everything is important which meant that locations with everything is preferred. In other words, mature neighbourhoods. This is the reason why those few hotspots will continue to have a good price appreciation and they will continue to lead in price appreciation. 56.5 percent thinks having MRT / LRT / KTM is very important but as we can see, this is merely a few percent above public parks / green spaces. Can we think of a potential reason why? Actually only 70 percent of the total respondents are from KL / Selangor. I believe if the respondents are solely from KL / Selangor, ths percentage for the MRT / LRT / KTM may be higher. This is also because 70 percent of all respondents are from the 18 – 35 age group too. This is the group which will will drive the ridership of public transport in the future. This is the full survey by LAFARGE and Edgeprop in an infographic. Please refer yeah. 

I do not think the ideal home for Malaysians and the ideal home which could be built by the developers based on the ideal home can be matched easily. 🙂  However, I would definitely hope that with the advancements in construction technology as well as the potential of little / no wastage (from a single affordable home agency), perhaps the current crop of unsold homes can really be lessened. All built are sold, that would be the best. Else, the unsold units would have to be subsidised by the units which were sold and that’s also one reason why prices cannot become cheaper too. Happy taking more surveys yeah.

written on 26 May 2018

Next suggested article:  Are you waiting to buy a property? Me too

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