Strong interest in real estate in Malaysia but insufficient demand
According to PropertyGuru Malaysia, interest in buying real estate is still high in Malaysia despite the country's higher cost of living, financial limitations, and affordability.
According to country manager Sheldon Fernandez in its Consumer Sentiment Study (CSS) Second Half 2023 (2H2023), approximately 50 percent of those surveyed, particularly the younger and lower-income populations, rely on government assistance to purchase a property.
Furthermore, 46 percent of the respondents reported persistent difficulties obtaining financing for affordable housing initiatives, Fernandez added.
According to Fernandez, it is crucial to strategically plan and carry out cheap housing programs to accommodate today's lifestyle, particularly in metropolitan regions where there are also ris...