Kashif Ansari, the Chief Executive Officer of Juwai IQI Group, states that the buy-rent ratio shown a robust belief in real estate market and the real estate market in Malaysia may experience a positive year in 2024.
According to the recently published IQI Property Survey of 2023 in Malaysia, 91.1% of respondents express a recommendation to encourage a friend to make a purchase today, while only 8.9% suggest considering renting.
Additionally, the statistics exhibit a similar imbalance in Kuala Lumpur and Selangor as observed nationwide, where 88.8% favor buying compared to 11.2% favoring renting.
This survey also anticipates a 9.95% rise in residential property prices and a 9.57% increase in rents over the upcoming 12 months. Within Kuala Lumpur and Selangor, industry experts predict a 9.7% ascent in property prices and a 9.9% upswing in rental rates.
That could encourage investors and renters to return to the market and lead to developers launching new projects and It can be expected to see more demand in 2024 which driven by Malaysia’s economic growth.
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EN: Bernama , New Sarawak Tribune
CH: 星洲网
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