The pandemic has accelerated digital transformation and the acceptance of remote work arrangements. This flexibility opened up new possibilities for individuals and families, allowing them to strike a balance between urban convenience and suburban tranquillity.
However, there could be a potential shift back to urban living, which could be attributed to a growing number of employers calling employees back to the office. Additionally, commuting times have also returned to pre-pandemic levels.
Moving forward, Malaysia’s property landscape is likely to be characterised by a hybrid approach, with individuals and families considering their lifestyle needs and aspirations. For those seeking the buzz and excitement of city life, Kuala Lumpur, Petaling Jaya, and Johor Bahru remain attractive options.
For those seeking a more laid-back lifestyle, suburban areas and smaller towns offer a greater sense of community and greener landscapes. Ultimately, the decision of where to live is a personal one, influenced by individual circumstances, lifestyle preferences, and career aspirations. The post-pandemic property landscape is a dynamic one, and we should evaluate all factors before making a decision.
Top two most searched properties in Bangsar
|% YOY searches
|570 sq ft – 997 sq ft
|2,950 sq ft – 5,450 sq ft
Search % is based on Jan-Nov 2023 vs Jan-Nov 2022 on iProperty.com.my.
Alfa Bangsar is located on Jalan Maarof, and it is developed by City Motor Group, which was once the sole distributor in Asia for Italian premium car manufacturer Alfa Romeo. City Motors Group has expanded its property portfolio by conducting more launches and diversifying into the property investment segment.
Alfa Bangsar is a multi-faceted 1.26-acre development, with an 8-level podium featuring a car park, hotel (managed by InterContinental Hotels Group), and 35,000 sq ft of commercial space. The project also includes 178 serviced apartment units on Levels 19 to 42. Alfa Bangsar will be accessible via Jalan Maarof and Jalan Tandok, and it is scheduled for completion in Q2 of 2024.
While the property market is showing sustainable growth amid global economic and geopolitical tensions, the iProperty.com.my property-to-buy search data showed that many consumers in the Klang Valley are still focusing on more mature areas.
According to the National Property Information Centre’s (NAPIC) Property Market 1H 2023 Report, Malaysia’s total property transaction value reached RM85.37 billion in the first half of 2023 (1H2023), with 184,140 transactions recorded. This represents a 1.1 per cent increase in value but a 2.1 per cent decrease in volume compared to the same period last year.
Deputy Finance Minister Datuk Seri Ahmad Maslan said that the residential property segment continued to drive the market, taking more than 60 per cent of the total transaction volume and nearly 53 per cent of the total transaction value.
Selangor had the highest volume and value contribution to the national market share, accounting for 26.1 per cent of volume (4,590 transactions) and 26.5 per cent of value (RM4.44 billion).
As the property landscape continues to evolve, developers are adapting their strategies to cater to the changing preferences of homebuyers. Mixed-use developments that seamlessly integrate residential, commercial, and recreational spaces are gaining prominence. These developments offer the best of both worlds, combining the convenience of urban living with the tranquillity of suburban spaces.
Developers who can effectively address these evolving needs will be well-positioned for success in the years to come. In recent news, Datuk Seri Ahmad Maslan said the property market’s performance is expected to improve in 2H 2023 driven by political stability and the launch of major national policies such as the Madani Economy, National Energy Transition Roadmap, Mid-Term Review of the 12th Malaysia Plan, and New Industrial Master Plan 2030.
- The search data is sourced from iProperty.com.my between January 2023 and November 2023, and it does not represent the whole residential property market in Malaysia.
- The term organic search is defined as when a property consumer searches for a property in a certain location via a search engine and lands on a search result page on iProperty.com.my.
- *Analytics from brickz.my is based on the data available at the date of publication and may be subject to revision as and when more current data becomes available. Readers are encouraged to seek independent advice before making any investment.
Disclaimer: The information is provided for general information only. iProperty.com Malaysia Sdn Bhd makes no representations or warranties in relation to the information, including but not limited to any representation or warranty as to the fitness for any particular purpose of the information to the fullest extent permitted by law. While every effort has been made to ensure that the information provided in this article is accurate, reliable, and complete as of the time of writing, the information provided in this article should not be relied upon to make any financial, investment, real estate or legal decisions. Additionally, the information should not substitute advice from a trained professional who can take into account your personal facts and circumstances, and we accept no liability if you use the information to form decisions.