KUALA LUMPUR― A study on home buyers showed 73 per cent did not mind paying between RM300,000 and RM750,000 for a residential property, including condominiums and houses.
The study by Real Estate Housing Developers’ Association Malaysia (Rehda), which was conducted between April 14 and 16 at the Mapex Property Showcase here with 1,655 respondents, revealed that almost 43 per cent of them had a household income of below RM5,000.
The breakdown of respondents in terms of monthly household income showed 29 per cent in the RM5,000 to RM10,000 group; 15 per cent from the RM10,000 to RM15,000 bracket; and 13 per cent of them earning more than RM15,000.
“The study showed that 38 per cent of them are first-time buyers and are looking to buy a property for self-dwelling purpose,” Rehda president Datuk Fateh Iskandar Mohamad Mansor said in a statement to Malay Mail Online.
The survey, he said, surprisingly revealed that the Kuala Lumpur City Centre (KLCC), Petaling Jaya, Damansara and Bangsar were among the top locations respondents were looking at.
“If you are only willing to pay up to RM750,000 and want a place nearby the KLCC…then that is a little farfetched,” he said.
He urged the media and the House Buyers Association (HBA) to educate the public about the current scenario in the property market.
Fateh said while most buyers were willing to pay above the affordable housing price of RM300,000, he added that they should also be “more realistic” about the property’s location.
“Interestingly enough, 44 per cent of these respondents say train accessibility is an important factor in their criteria of buying a house.
“This is a good thing as they do not need to be walking distance to the KLCC, as long the LRT or MRT connects them there conveniently,” he said.
The survey also revealed that 34 per cent of the respondents want easier access to housing scheme, 28 per cent want lower interest rate on housing loans, while 24 per cent hope for a special programme from the government, such as a grant.