More than half of Malaysians want to own a home within the next six months despite soaring property prices.
In a poll, Real Estate and Housing Developers’ Association Malaysia (Rehda) found that 56% were looking to own a home within the next six months, primarily within the KLCC area and Kuala Lumpur city centre.
“About 38% of them are first-time homebuyers, 30% repeat buyers, 23% investors, 6% expatriates and 3% tenants,” said Rehda president F. D. Iskandar.
However, he added that stringent lending rules continued to be a major deterrent.
The survey found that more than a quarter of respondents said they would purchase a property within the next six to 12 months, 12% were unsure and 6% said they would like own a home immediately.
Iskandar said the respondents’ preference to buy property within the KLCC area and Kuala Lumpur city centre was “unrealistic”.
“If you want to buy a property in Damansara Heights or even Bangsar… then you’re going to be prepared to pay for it,” he said.
