4 in 5 Gen Z Malaysians are selecting to purchase condominiums or residences, marking a pointy distinction with older generations who proceed to favour landed properties, in keeping with property group Juwai IQI.
The research, based mostly on greater than 127,000 transactions since 2018, suggests the generational divide might reshape Malaysia’s housing market within the coming a long time.
“Gen Z are shopping for into the skyline, whereas Millennials and Gen X maintain their toes on the bottom,” Juwai IQI co-founder and group chief government officer Kashif Ansari mentioned in a press release in the present day.
The info exhibits that 84 per cent of Gen Z patrons buy items in comparison with simply 16 per cent who go for landed properties.
In distinction, Technology X — Malaysians of their late 40s and 50s — nonetheless lean in the direction of terraces, duplexes and different landed properties, though 75 per cent of their purchases are additionally items.
Boomers, aged 60 to 80, are extra seemingly than Gen X or Millennials to downsize into condominiums for simpler maintenance, whereas the oldest group — these above 80 — overwhelmingly purchase items, accounting for 93 per cent of transactions.
Kashif mentioned the preferences replicate life levels and concrete life. Youthful patrons usually need properties near workplaces, transport and facilities, whereas households of their 30s to 50s prioritise house.
“Gen Z, who’re almost 9 million robust, will drive demand within the housing marketplace for the subsequent 20 years as they improve to bigger items or landed properties. Their selections will form how our cities and suburbs develop,” he mentioned.
Regardless of the pattern, landed properties nonetheless make up nearly all of Malaysia’s housing inventory and transactions. In 2024, 69 per cent of properties have been landed, in comparison with 31 per cent high-rise items, in keeping with Nationwide Property Info Centre knowledge cited within the report.
Kashif famous that affordability is a key issue. Month-to-month bills for high-rise properties are estimated to be RM200 decrease than for a terrace home and RM1,200 decrease than for a indifferent dwelling, on common.
“Each technology has its preferences, and by recognising and responding to them, Malaysia can proceed to offer properties that meet the wants of all its individuals,” he mentioned.
Supply: MalayMail.com
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