Buyers Still on the Lookout for Klang Valley
Properties
Malaysia Has Highest Household
Debt in Asia
Driven by a buying spree of
houses and cars, Malaysia’s
household debt has climbed to
86.8 percent of GDP, which is
the highest in Asia..
Malaysian property buyers are still on
the lookout for affordable to luxury
homes in the Klang Valley despite
the government’s property cooling
measures.
A survey conducted by the Real Estate
and Housing Developers’ Association
Malaysia (REHDA) showed that 51
percent of the 1,800 respondents are
looking for properties within Selangor,
targeting areas like Puchong, PetalingDamansara, Kajang / Bangi, Rawang /
Gombak and Shah Alam.
At least 35 percent indicated that
they are keen to acquire houses in
Kuala Lumpur, particularly in Wangsa
Maju, Cheras, Bangsar and Kepong /
Selayang.
Majority of respondents prefer landed
properties, with terraced houses
emerging as the popular choice; 34
percent are aiming for semi-detached
homes, while 12 percent are eyeing
bungalows.
For strata title properties, 24 percent
prefer serviced apartments, 25
percent wants to stay in apartments
and 39 percent chose condominiums.
priced from RM301,000 to
RM500,000, while 27 percent said
they can afford properties priced
between RM501,000 and RM1 million.
The survey also found that these
potential buyers are searching for
properties that offer good facilities
such as schools, commercial centres,
hospital and accessibility, like
proximity to highways, LRT / MRT
stations, pedestrian walks and public
buses.
“Pricing comes third for the
respondents. People today are more
conscious about connectivity and
facilities. What we need is more
supply of homes or they would
remain unaffordable for certain
households,” noted REHDA national
treasurer Datuk N.K. Tong after a
briefing at the Malaysia Property Expo
(MAPEX) 2014.
“The ratio of household debtto-GDP is expected to remain
elevated over the next few
years as demand for credit
is likely to remain strong,
particularly from the relatively
young labour force and more
affluent population in urban )