We spend SO MUCH time on property (make it happen?)

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How much time do I spend on property related stuffs per week? Well, on a daily basis, 3 hours. On some weekends, maybe 4 hours. So, on a weekly basis, probably 19-23 hours. I read and write daily. Fortunately for me, this is a passion and this is why i could write daily. As for viewing of properties, I do it pretty often, weekly perhaps. This is because there are developer events every week. Usually, the newer emerging townships will have far more events than the nearer to KLCC ones. One major reason is to ensure that the potential buyers are familiar with the new emerging townships as well as have a chance to experience the potential lifestyle they could have if they move there. Let’s be honest. Two brochures, one is for a project nearby KLCC and another one is in Semenyih, which one will appeal more? Anyway, I think a lot of Malaysians are visiting these developer events too. However it seems that they spend a lot of time online to do so too. Read on.

Article in thestar.com.my here. HSCB Malaysia country head for retail banking and wealth management Tara Latini said, “Malaysians spend longer time viewing property than they do keeping fit at the gym, reading books, or reading and watching the news,” In fact we are the top in Southeast Asia and are ranked fourth globally, losing to only to the United Arab Emirates, the United States and Taiwan. As per the survey, we spend 4.37 hours per week viewing properties. She also said that almost one out of five Malaysian was an extreme house hunter who spends more than 10 hours looking at property magazines every week. (Who says Malaysians do not read? Haha)

She also revealed, “More than  26% of these Malaysian extreme property addicts spend between 7 and 9 hours searching for properties online.” For Malaysia, Latini said 25% of extreme property addicts have delayed having a baby by 7-8 years and another 25% have delayed having a baby by 5-6 years in order to purchase a property. She added, “The rest of the 50% Malaysian property addicts have delayed having a baby by less than two years to get on the property ladder.”

Latini also said that for property, almost half (46%) of Malaysians have made sacrifices by cutting back on bigger expenditures such as cars, holidays, and luxury items. She said, “Buying a property is often the biggest and most significant purchase we make but some home buyers may be taking their passion for the perfect home too far.” She said property magazines, TV programmes and websites are making it harder for people to have a realistic expectations about what they could afford. Article in thestar.com.my here.

I think the survey may have covered more Malaysian property buyers who are managing their wealth pro-actively. As per the survey, nearly half of all Malaysians who intends to purchase a property are making sacrifices by not buying cars, luxury items and going for holidays. This is the KEY my dear Malaysians. With our current limited income, it’s hard to buy luxury stuffs and going for holiday and STILL buy a property at the same time. As for the ‘baby delaying’ tactic just to buy that perfect property, I think I disagree. Thus far, I do not know of a single friend having this mindset yet. Maybe just my friends then. It’s good to know that Malaysians are now reading more about property online. Perhaps this is why the number of visitors to kopiandproperty.com has been on an uptrend this year. Happy investing into a property. Just don’t focus on so-called perfect property. Once we earn a higher income, that perfect property changes…

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Article written and edited by Charles. News article summarised by Dina Batrisyia.

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