\nStraight out of PropertyGuru\u2019s Hari Krishnan mouth<\/p>\n
Malaysia has not been feeling the warmth lately in terms of real estate transactions, thanks to a weakening ringgit and an economic slowdown. Bloomberg TV Malaysia\u2019s Sophie Kamaruddin recently had the opportunity to speak with PropertyGuru\u2019s chief business officer Hari Krishnan about the current market sentiment.
Straight out of PropertyGuru\u2019s Hari Krishnan mouth Malaysia has not been feeling the warmth lately...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-16624","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-4k8","jetpack-related-posts":[{"id":67434,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/49-of-sporeans-aspire-to-buy-property-in-near-future\/","url_meta":{"origin":16624,"position":0},"title":"49% of S\u2019poreans aspire to buy property in near future","date":"September 26, 2017","format":false,"excerpt":"\r Property affordability sentiment is still subdued in Singapore. 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\nHere\u2019s what he had to say about the state of Malaysian property and the hopeful times that lie ahead.
\n1\u2013There\u2019s still strong demand
\nPropertyGuru\u2019s recent survey, Malaysia Property Market Sentiment Survey Report 2016, shows that almost 60 percent of consumers are still looking to transact or buy a house within the next six months. Krishnan distinguished two primary sets of buyers emerging: those seeking properties less than 1,000 sqft in size and those seeking greater than 2,000 sqft.
\n\u201cThere is a strong demand for properties in Malaysia. Properties still remain an interesting asset for consumers and investors despite the sluggish market,\u201d said Krishnan.
\n\u201cWe believe that over the next six to nine months demand is going to reach that point where it\u2019s going to shift things,\u201d he told Kamaruddin.
\n2\u2013Buyers are more informed
\nCooling financial measures recently set in place by Bank Negara Malaysia (BNM) has only led to buyers making more informed property decisions. For the first time, scores of Malaysians are doing more introspection vis-a-vis projects, neighbourhoods, or developers and checking their credit histories before they access capital.
\n\u201cMost buyers nowadays are checking their CTOS credit report online and realise their affordability rate before approaching the bank,\u201d Krishnan said.
\nMore: In the next 10 years, Kuala Lumpur is set to become a major airport city
\n3\u2013It\u2019s not just Kuala Lumpur
\nHari has picked up a spike in business activity away from the capital city lately. He specifically named such places as Puchong, Klang, Johor Bahru, Nusajaya and Skudai as five markets seeing increasing interest on the PropertyGuru portal.
\n\u201cYou are seeing folks looking for those smaller houses. They\u2019re willing to move farther away from the city centres.\u201d
\n4\u2013Drones, drones, drones!
\nIn anticipation of this turnaround in demand, PropertyGuru has introduced drone videos, giving buyers a better perspective of a prospective buy and the infrastructure that surrounds it.
\n\u201cSince people love coming to us for information, we thought about how we could make things easier for them,\u201d said the property Guru.
\nCoupled with this tool, 3D tours will let consumers on the PropertyGuru site virtually take down walls and give them a sense of place.
\n\u201cThis and the drone videos will definitely give them an idea of where and what they are investing in,\u201d he said.
\nRead next: Property Report Congress 2016 series is coming to Kuala Lumpur
\n
\nSource : property-report.com
\nRead more…4 things to know about the current state of Malaysian real estate<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"