For the past few months, MCO has undoubtedly left a drastic, if not life-changing, impact on all of us. But to better understand the degree to which the outbreak has manifested itself into people’s thoughts and lives, we have conducted an online survey that has managed to provide meaningful indicators on the post-pandemic shift in the market sentiment. This survey conducted in May has obtained responses from a total of 472 respondents across the demographic spectrum from all over the country. While everyone has a different MCO experience, it somehow made us all realized many things that we didn’t notice before, such as changes in our personal preferences to life perspectives. From this survey, we managed to answer some of the key questions in-depth. So let’s take a look at the outcome;
Insight 1: MCO a Blessing in Disguise
Does everything around you seem all gloom-and-doom these days? Then you might fall under 37% of the population who shares the same sentiment. However, a whopping 63% of the respondents feels positive and majority of them believe that the current situation will improve soon, which is pretty much accurate as the Covid-19 cases in Malaysia are decreasing fast and remain consistently low for the past few weeks, thanks to our highly-competent health officials who acted swiftly in combating the outbreak. 13% of the respondents believe that now is a good time to invest due to all time low interest rate as part of the government’s and Bank Negara’s efforts to reboot our economy.
Insight 2: A Split in the Crowd
The scores between the yes and no are more or less a tie. 51% of the respondents believe that it is a good time to buy a house in the next 6 months due to attractive promotions from the developers, complemented with low interest rate from the bank. However, 49% think otherwise which mostly due to financial concerns, while some believe that house price will continue to fall. As we have now come to a turning point of our country’s plunging economy for the past few months, the stimulus package will only continue to heal the wounds, which means that the property market will now begin to see a potential surge as our country emerges from the economic ashes. While it might be a good time to invest, it is always wise to carry out thorough research and meticulous planning instead of rolling the dice blindly because at times like this, putting your money where it should be is key. If you are keen to learn more about good investment practices, there are some credible financial websites you can visit such as LOANSTREET or iMONEY.
Insight 3: Stepping Up the Game
In a highly competitive market today, developers could not afford to miss the mark especially in the aspects of quality,
, affordability, customer service (before and after sales) and unique product design. However, it is crucial to reiterate that you should always be very cautious not to trade quality for affordability. Instead, you should look for those that offers good values for money because when it comes to property, cheap is not necessarily a good thing if the quality is compromised.
In addition, you should also seek for developers who deliver responsive after-sales service to their buyers. Usually, developers should have a dedicated independent customer service team who acts as customers’ advocate which complies to strict rectification timeline. As for product design, its uniqueness is what set developers apart by offering home-buyers a sense of exclusivity and beyond. A unique design captures every little detail in the aspect of its residents’ emotional and lifestyle components. Here’s is an example of a developer who consistently offers unique product design in the market; SPB Projects.
Although these elements are essentials to all developers today, unfortunately, many of them still remain myopic and turned a blind eye on the importance of these elements, which could eventually lead to their downfall. Developers should constantly be reminded that without a decent quality check for their products is like walking into a pitfall. It is never too much to ask for them to get things right. But how would you know? That’s where QLASSIC comes in. Being an independent scoring mechanism introduced by the Construction Industry Development Board (CIDB), it is a reliable source to tell if the developer has truly invested in their quality (Click HERE know more about QLASSIC).
Insight 4: MCO-Proof is the New Fire-Proof!
Dreading the possibility of another 3 months MCO? Perhaps it’s time to get yourself an upgraded home with extra land! Having an extra land and personal spaces are the stood-out features for the respondents upon experiencing MCO. We all know that being ordered to stay indoors at all time is no fun and sometimes it could even be excruciating for not being able to go places. For this reason, the importance of these house features became more obvious than ever because as people sit at home most of the time, having these features in-hand would serve as the platforms for home-owners to spend their quality personal and family times by permitting more indoor activities. Nothing says privacy like spaces between houses so if you are someone who value uninterrupted living environment, perhaps you would appreciate house types such as semi-d, zero-lot or bungalow. Hence, if you are surveying any property for sale in Melaka or anywhere else in Malaysia, please check if it is MCO-proofed; if you ought to stay in this house for another 3 months MCO would you still be comfortable? If yes, well then congrats! You’ve got it!
Insight 5: You Are Not Alone!
The two big questions that most of the respondents have in-mind when it comes to buying a house are whether the developer is good, and whether the actual units would be on-par, if not better, compared to the show units. Without exaggeration, these might be the most crucial part of your quest in searching for the perfect home. Fortunately, in this era of great technological advancement, the answers to these questions aren’t so hard to find after all! To tell if a developer truly walks the talk, testimonies from the past and current buyers always come in handy. Also, if you aren’t so sure if the end products are up to standard, find out whether the developer are equipped with all the qualifications and certifications e.g. QLASSIC, better yet, if the developer has won any award at all. Without much hassle, your answers are just a click away! And if the project has already been completed, simply pay their finished product a visit and see for yourself!
Insight 6: Life-Changing Factors to a Life-Changing Decision
When comes to the criteria of buying a house, 48% of respondents have chosen location as their top priority. For obvious reason, location is inevitably one of the major considerations for all home-buyers. While it might be tricky and sometimes arduous to scout for the ideal location for your long-term settlement, it is always worth the effort to go an extra mile. The reason is because it concerns the long-term well-being and fulfillment of your family and yourself. Therefore you must ask, what are the trade-offs for choosing the location and what matters most to you? Are you a town or a countryside person? Do you prefer buzzing city life or a nature-enclave, countryside living? If you are searching for new property in Melaka, different parts of Melaka offer different living environment. Of course, there are many other factors in which you would need to take account of in a bid to find the perfect location before you seal the deal. So list them down and perhaps rank them accordingly and I promise you, it won’t be long till you find your golden spot!
This survey poses many key implications for both developers and home-buyers. These findings may serve as the guiding principle for developers to better understand the market sentiment and respond accordingly in order to retain competitive edge, but more importantly, they may be your key to make the best decision in your hunt for the perfect home, for all is within your grasp with the right knowledge!
For more information, call us now at 06-2810003 or visit our website at www.spb-property.my/
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