Home seekers keen on property purchase post-MCO, survey shows

KUALA LUMPUR, July 14 — The number of home seekers post-movement control order (MCO) announcement increased to 45 per cent, according to a survey by iProperty.com.my.

The property portal said its survey revealed that 24 per cent of the respondents who were not looking to buy a property before the MCO are now looking to purchase after the MCO announcement.

“A majority of these new entrants are either looking at current market conditions as an opportunity to purchase their first homes, upgrade their existing homes or to invest in property while the minority mentioned that they are downsizing or moving to more convenient locations,” it said in a statement today.

The survey also revealed that 90 per cent respondents answered that factors which would help to ease their transaction decisions are easy entry options such as zero down payment, developer discounts and subsidised legal costs.

Its general manager of marketing and communications Wong Siew Lai said findings from the survey revealed something very encouraging on Malaysian property seekers purchasing desires despite the unprecedented situation caused by the Covid-19 pandemic.

“If they discover the right deal, many opportunistic property seekers are willing to invest even beyond their original budgets,” she said.

The survey was conducted between May 14 until June 1 this year among the generation Z (aged 18 to 23), generation Y (aged 24 to 34) and generation X (aged 35 to 54). — Bernama