The current climate of Malaysia's property industry can best be described as uncertain, thanks to an oversupply of properties, poor market sentiment and the depreciation of the Malaysian ringgit. The residential sub-sector, however, is experiencing a buyer's market, making this the ideal time for prospective homebuyers to make their move.
If you're in the market for a home, here are some factors to consider:
Location, location, location
Location is everything when deciding on a home that accommodates your desired lifestyle. The more centrally located it is, the more in demand - and expensive - it will be. On the other hand, townships such as Cyberjaya, Sunway and Setia Alam are becoming increasingly popular due to their connectivity to the city via highways or public transport links, while being less expensive than the city centre. This allows homeowners a more affordable lifestyle while giving them easy access to their offices in the city.
Future developments in the area
The neighbourhood you settle in will have a substantial impact on your long-term satisfaction. For that reason, it's essential to consider the scope of future developments in the area. Be especially cautious about buying a house next to vacant land as there is a high chance that any future construction will affect your view or road access.
A comfortable environment
Property developers in Malaysia are coming up with smaller houses to keep them affordable for young homebuyers in a weak property market. However, a smaller space doesn't have to feel cramped and uncomfortable. Look out for a place that integrates and makes the best use of natural elements in its design and layout - for instance, one that has plenty of sunlight will feel airy and spacious, while wood furnishings and panelling add warmth.
Reputation of the developer
It's always prudent to ensure that the property developer has a stellar track record. Knight Frank Malaysia managing director Sarkunan Subramaniam suggests checking to see if the developer has a practice of delivering quality units on time. He also recommends ensuring it has a good following and offers reasonable prices and conditions for returns.
Security and safety
According to PropertyGuru Malaysia's 2016 survey, 56 per cent of homebuyers considered security a top concern, so it's not surprising that gated communities are still very much in demand in Malaysia. Such properties offer improved security, not just in terms of crime but traffic as well. Within gated communities, children can cycle and play outdoors, while residents can stroll around the compound where roads are less busy.
Ultimately, it's that peace of mind and feeling of safety that makes a house feel like home. If you're not interested in living in a "gated and guarded" community, consider investing in home security devices.
Solutions to spruce up your new home
After you've made your purchase, the next step is to have it designed and furnished to meet your lifestyle needs.
Located in Bangsar South, the Panasonic Inspire Maison is a practical showcase of products and solutions designed to promote better, healthier living. Explore Panasonic's range of security cameras to enhance the safety and wellbeing of your family; home energy management systems to lower your utility bills and reduce your carbon footprint; top-of-the-line entertainment devices, and much more.
For more ideas on achieving the home and lifestyle of your dreams with Panasonic's solutions, visit Inspire Maison from February 2017. For more details, check out Panasonic Homes & Living's LinkedIn page or subscribe to Panasonic Homes & Living blog for updates.
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