by S BIRRUNTHA/ pic by HUSSEIN SHAHARUDDIN

Seventy-three percent of Malaysians are looking to change their home situation after spending extensive time indoors due to Covid-19, according to PropertyGuru’s biannual Consumer Sentiment Study for the second half of 2021 (2H21).

Of those surveyed, 38% want to renovate or repurpose certain areas of their home, while 35% are starting to think about owning a home or moving out of their current location.

The study also found that the pandemic has impacted Malaysians’ perception of space at home, as more than three in four people (77%) now consider it important for new properties to have an additional room that can be used as a home office.

The increasing desire to own a home or move into a property that can meet their needs is especially high among renters (74%), individuals who live with their parents (63%), and those in the low-income group (50%).

Commenting on the study, PropertyGuru Malaysia country manager Sheldon Fernandez said Malaysia has undergone various forms of lockdowns in the last 17 months, and all this time at home has made more people realise the importance and benefits of having a space of their own, especially in the age of remote working.

“The pandemic’s effect on the way in which people plan their home life is more prominent among young Malaysians, low-income earners, and those currently living with their parents, who cited ‘needing more personal space’ as one of the top reasons of wanting to purchase a new home,” he said in a statement today.

Meanwhile, the study noted that the top three reasons cited by those who wish to purchase a property were for investment purposes (43%), to take advantage of the low interest rates available now (27%), as well as the need for more personal space (26%).

It said the favourable interest rates and price outlook, as well as the high current real estate satisfaction have increased the study’s overall sentiment index by three points from 42 in 1H21 to 45 in 2H21.