An iProperty.com consumer trends survey for the first half of this year showed more Malaysians looking to property for investment.
The online survey conducted on the iProperty.com Malaysia website had the participation of 500 respondents and was aimed at getting key insights into Asian property buyers, including motivations for purchasing property and budgets.
In a statement yesterday, the property website said of the 500 respondents, 47 per cent were looking to purchase a home while 31 per cent were investors seeking to expand their financial portfolio with real estate.
The survey showed motivation to invest for rental income dropped in 2010 whereas property investments for capital appreciation was on the rise.It also said this increased preference to profit from resale could be attributed to rising property prices, as the Malaysian property market continues to improve.
A total of 43 per cent of the respondents were in the market for high-end properties valued between RM400,000 to RM5,000,000. This represents a whopping 16 per cent increase in demand for high-end properties with the RM500,000 to RM1,000,000 segment alone increasing by 10 per cent.
The survey pointed out that rising property prices, better rental returns and high resale profits could be some of the reasons for an increased demand in high-end properties."As confidence in the property market grows, we are seeing more home buyers and investors turning to high-end properties as a means to profit from capital appreciation and expand their financial portfolios," said iProperty.com Malaysia Country Manager Ken Tsurumaru.