KUALA LUMPUR, Jan 29 (Bernama) -- Malaysians are keen property purchasers with a preference for landed properties and inclined towards obtaining maximum margins of financing, a survey by the real estate website iProperty.com revealed.
"Compared to most foreign buyers who have a preference for luxury condominiums, Malaysian respondents strongly favour landed properties," iProperty.com said in a statement here Tuesday.
Fifty-nine percent of the Malaysians surveyed voted for completed properties and 53 percent for newly-launched landed properties, iProperty.com, Asia's leading network of property portals and owner of Malaysia's number one property and real estate website, said.
Interestingly, this finding corresponds with the Malaysian respondents' main attraction to property investment as 62 percent of them cited potential gains from capital appreciation as their reason for buying property.
The survey released Tuesday is the second part of its Asia Property Trends Survey 2007, which reveals the investment behaviour of local property buyers.
Part One of the survey, which was released earlier this month, focussed on foreign investors of Malaysian property.
The survey was conducted online from 15 November to 31 December 2007, with results yielded from 2,066 respondents.
The Malaysian survey respondents on average are highly educated (69 percent have a Bachelor's degree or higher level of education), a professional or senior executive (60 percent) and has an annual income of at least US$20,000/RM76,000 (53 percent).
On Malaysian's preference to finance their property acquisition, iProperty.com said an overwhelming 77 percent of the respondents stated that they plan to fund their property acquisitions with loans that offer margins of financing of between 80-100 percent.
The survey findings also indicated that Malaysians are ardent property purchasers on an active lookout for investment opportunities, with a significant 88 percent expressing that they intend to buy property within the next 12 months.
"Forty eight percent divulged they have purchased at least one property over the past 24 months, with 10 percent having purchased two or more.
"Fifty seven percent replied that "location" was the most important factor they consider in hunting for a viable property, with a 36 percent ranking "price" as the second most important factor.
"In this context, both Malaysian and foreign buyers agree on the factors of "location" and "price" in identical order of importance," it added.
-- BERNAMA
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