KUALA LUMPUR, Aug 15 (Bernama) — There is a growing demand for larger properties with three bedrooms or more in Malaysia, says The iProperty Group, owner/operator of property website, iProperty.com.
In a statement here today, iProperty.com said, its data revealed that the houses in the country were getting larger.
“The data, collected and tabulated by iPropertyIQ, revealed that people are now living in homes that are about 67 per cent larger than it used to be 15 years ago,” it said.
iProperty: Growing Demand For Larger Properties With 3 Bedrooms Or More Click To TweetChief Executive Officer, Georg Chmiel, said with the data, real estate professionals were able to discover new insights, predict outcomes in real time, and develop developments that caters to the needs of property buyers.
He said the data were obtained from a combination of data from iProperty.com Malaysia and from Brickz.com.
“The latest findings revealed that houses that are being bought and sold today had an average size of 1,900 sq ft.
“It is interesting to note that in the 1990’s, when the population was at 18 million, houses used to average at 1,150 sq ft. In just a span of 26 years, property sizes have increased by 750 sq ft,” he said.
Chmiel said even though affordability continued to remain a key concern, Malaysians were looking for larger homes and the findings also showed that terrace houses are also getting more popular.
Aside from homes getting bigger and demand for terrace house growing, the data also revealed that since 2001, houses with four bedrooms or more has gained grounds from houses with two rooms or less.
Like this article or found it helpful? Share it!
Follow us on Twitter for more news, tips and inspiration. Become our mate on Facebook and explore our Pinterest boards.