More Malaysians looking to property for investment, says iProperty.com

KUALA LUMPUR: A iProperty.com consumer trends survey for the first half of this year showed more Malaysians looking to property for investment.

The online survey conducted on the iProperty.com Malaysia website, had the participation of 500 respondents and was aimed at getting key insights into Asian property buyers, including motivations for purchasing property and budgets.

In a statement here on Friday, July 16, the property website said of the 500 respondents, 47% were looking to purchase a home whilst 31% were investors seeking to expand their financial portfolio with real estate.

The survey showed motivation to invest for rental income dropped in 2010 whereas property investments for capital appreciation was on the rise.

It also said this increased preference to profit from resale could be attributed to rising property prices, as the Malaysian property market continues to improve.

A total of 43% of the respondents were in the market for high-end properties valued between RM400,000 to RM5,000,000. This represents a whopping 16% increase in demand for high end properties with the RM500,000 to RM1,000,000 segment alone increasing by 10%.

The survey pointed out that rising property prices, better rental returns and ultimately healthier resale profits, could be some of the reasons for an increased demand in high-end properties.

"As confidence in the property market grows, we are seeing more home buyers and investors turning to high-end properties as a means to profit from capital appreciation and expand their financial portfolios," said iProperty.com Malaysia country manager Ken Tsurumaru.

To meet this increasing demand for luxury properties, he said the incoming iProperty.com Export Luxury Collection Property Exhibition will be the biggest of its kind in Malaysia, showcasing luxury developments from across the globe. — Bernama