News by Elaine Boey

It is the strength of a neighbourhood community that enhances the value of a property in the long run, says veteran property developer Tan Sri Teo Chiang Kok.

A better home in the 21st century is one that provides its occupants with a better quality of life, say members of Rehda Youth, the youth wing of the Real Estate and Housing Developers’ Association (Rehda). This entails far more than the design and construction of the physical building as various intangible factors come into play.

Members of Rehda Youth, the youth wing of the Real Estate and Housing Developers’ Association Malaysia (Rehda) always have their fingers on the pulse of the property industry. These young developers keep abreast of the challenges and trends in the market and are well aware of the buying behaviours of their target market.

Tan Sri Datuk Sri Leong Hoy Kum expects the local property market to hit a turning point soon and anticipates demand to pick up in the second half. “Various indicators point towards a turning point. Residential property transactions have bottomed out as there was a milder contraction in Q42015 compared with the third quarter and second quarter of last year,” says Leong, the managing director of Mah Sing Group Bhd.

Nusmetro Property Sdn Bhd believes homebuyers are looking for projects in specific locations and developments that fit their lifestyle. “Market demands are ever evolving. As a developer, you are either creating or chasing a trend. At Nusmetro, we focus on designs that are unique, that allow people to live in a different way. Right now, we are focusing on centrally located studios and duplexes to provide homebuyers with accessible luxury,” says its corporate communication manager Brie.

Current real estate trends are interesting as they give an idea of how customers’ behaviours and tastes are evolving.

Perhaps the biggest appeal of new developments in suburban areas is the price. Homes that are far from the city centre are much cheaper.

An ageing population and millennial homebuyers are driving structural changes in Malaysia’s real estate industry.