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Proposals discussing the consideration of new property project
MGW2351 - International business
39 Pages • Essays / Projects • Year Uploaded: 2021
According to the Malaysia Consumer Sentiment Study, the continued preference for terraces showed that 2 in 5 Malaysians live in terraces, while 3 in 10 prefer condos (the second most popular property type on the list). This is an ongoing trend that is expected to continue in 2021. The Faculty of Built Environment, University Malaya, conducted a survey find out on homebuyers’ preferences. The results show that young adults between the age of 20 – 39 years prefer high rise properties as compared to terraces. The survey also revealed that majority of the young homebuyers earn between less than RM3,000 to RM8,000, and fall in the lower to middle income group. Hence affordable housing price should be not more than RM200,000. Based on the Malaysian house price index, the average housing price for all houses for middle income group in year 2020, stood from RM 300 – RM 400K. Young homebuyers have different expectations and they want facilities that allow them to live a certain lifestyle. Hence, developer have to be creative in building an environment that fosters the desired lifestyle of these young buyers. The property market is highly competitive and buyers are looking for more than just a home. In your group consisting of young minds, come up with an idea/s on how condominium developers can enhance the feature of their property to attract young buyers.
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