Potential Property Buyers' Considerations: Price, Location, and Other Factors?
List of Authors
  • Alamah Misni, Faridah Muhamad Halil, Illa Marhatilla Adzli, Siti Mazwin Kamaruddin

Keyword
  • Property Buyers, Real Estate, Property Types

Abstract
  • The real estate amount of transaction market in Malaysia increased overall in 2023. The number of transactions increased by 2.5% to 399,008, while the value of those transactions increased by 9.9% to RM196.83 billion from RM179.07 billion in 2022 (Property Market Report 2023). The market's largest subsector, residential real estate, saw a slight increase in transaction volume and value, highlighting its stability and attractiveness (Property Market Report 2023). This evidence proves that buying property is one of the biggest investments for Malaysians. The value of the property will typically increase and infrequently decrease. Customers always prefer to purchase real estate products with a reinvestment value (Rahadi et al., 2022). Clear trends of new residential launches in KL comprised 77% high-rise and 23% landed (Market Outlook 2024). Property is a multifaceted product, with different aspects that influence its worth. The objective of this research is to identify the respondents’ views of features affecting property values in Kuala Lumpur. A survey was conducted on respondents who attended the Home Ownership Campaign (HOC) in the Mid Valley Exhibition Centre (MVEC) on 26 – 28 April 2019 pre-pandemic. One hundred thirty questionnaires were distributed and collected by hand to the audience in MVEC. The study identified three property considerations that have relatively strong effects on property values and influence the sales and purchase decisions of sellers and buyers. The descriptive analysis and scale measurement of respondents’ views indicates that price, good neighbouring facilities, and proximity to business centres were the top factors. Tangible factors, which consist of built-up area, lot types and property types, are also a purchasing consideration.

Reference
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