Malaysians prefer landed properties

A survey by real estate website network operator iPorperty.com Group shows that Malaysians favour landed properties over high-rise developments, and are more inclined towards obtaining maximum margins of financing.

Compared to most foreign buyers who prefer luxury condominiums, Malaysian respondents strongly favour landed properties, with 59 per cent and 53 per cent voting for completed and newly launched landed properties respectively.

In a statement, iProperty.com said this corresponds with their primary attraction of potential capital appreciation gains.

"It is a widely known fact that landed properties, as compared to high-rise apartments, tend to perform better in terms of long-term capital appreciation," the company said.

An overwhelming 77 per cent of respondents stated that they plan to fund their property acquisitions with loans that give them margins of financing of between 80-100 per cent.

"We now have a good reason to believe that Malaysia has a property-investing culture with a lot of domestic demand. Property values have been rising consistently over the years, and will continue to do so as the country develops. We are pleased to note that many savvy Malaysians recognise the attractiveness of the local property market and are eager to take advantage of the significant potential upside," iProperty.com Group executive chairman Patrick Grove said in the statement.

By New Straits Times